Welcome to our dedicated page for Popular news (Ticker: BPOP), a resource for investors and traders seeking the latest updates and insights on Popular stock.
Popular Inc (symbol: BPOP) is a prominent financial holding company headquartered in Puerto Rico. With its roots deeply embedded in financial services, Popular Inc. operates through four main subsidiaries. The most notable among them is Banco Popular de Puerto Rico, the leading financial institution on the island, serving over 1.4 million individuals and business clients.
Banco Popular de Puerto Rico offers an extensive range of financial products and services that cater to varying customer needs. The bank's expansive reach is evident through its network of over 600 ATMs and more than 160 branches. Additionally, it provides multiple convenient banking platforms such as Mi Banco Online, Mi Banco Mobile apps, and a 24/7 call center known as TeleBanco.
Popular Inc. also extends its operations to the continental United States through Banco Popular North America. Furthermore, the company diversifies its services with Evertec, a data processing firm, and Popular Financial Holdings, a diversified financial services company.
The corporation prides itself on its core values: social commitment, customer focus, integrity, excellence, innovation, and performance. With a heritage spanning over 121 years, Popular Inc. attributes its success to its more than 6,000 dedicated employees. The company not only offers competitive salaries and benefits but also fosters a familial corporate culture, ensuring that its workforce remains motivated and committed to exceptional performance.
Popular Inc. remains steadfast in its mission to provide top-quality financial services and continues to evolve and innovate to meet the growing needs of its clientele. The company’s commitment to excellence and innovation ensures that it remains a pivotal player in the financial industry.
To stay updated with the latest news and developments related to Popular Inc., be sure to follow our news section regularly.
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) for Popular Life Re (PLRe), a life insurance subsidiary of Popular, Inc. (NASDAQ: BPOP). The ratings outlook is stable, reflecting PLRe's very strong balance sheet strength and adequate operating performance. However, the weak credit profile of its parent company negatively impacts PLRe's ratings. Factors supporting PLRe's ratings include a strong Best's Capital Adequacy Ratio and a high-quality investment portfolio, enhancing liquidity. The limited growth in business, attributed to natural disasters and the COVID-19 pandemic, is a significant concern. Improved market conditions following Hurricane Maria may present future growth opportunities for PLRe.
Popular, Inc. (NASDAQ:BPOP) reported a net income of $159.0 million for Q1 2023, down from $257.1 million in Q4 2022, which included a $68.2 million tax benefit. The net interest margin decreased to 3.22% from 3.28% in the previous quarter. Non-performing loans (NPLs) decreased by $27.1 million, resulting in an NPLs to loans ratio of 1.3%. Total loans increased by $260.6 million, while deposit balances fell by $273.3 million. The company issued $400 million in senior notes to redeem existing debt. Notable metrics include a Common Equity Tier 1 (CET1) ratio of 16.73% and a tangible book value per share of $50.15.
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of
Additionally, a monthly distribution of
Popular, Inc. (NASDAQ:BPOP) has announced that it will report its financial results for the first quarter ending March 31, 2023, before the market opens on April 26, 2023. A conference call to discuss these results will take place on the same day at 11:00 a.m. Eastern Time, accessible via the company's website or through a toll-free dial-in. A replay of the call will be available for several weeks. Popular, a leading financial institution in Puerto Rico, provides a wide range of banking services and is a significant player among U.S. bank holding companies.
Popular, Inc. (NASDAQ:BPOP) has announced an agreement to sell $400 million of its 7.25% Senior Notes due 2028. The proceeds will be used to fully repay $300 million of its outstanding 6.125% Senior Notes due September 14, 2023. The new Senior Notes will pay interest semi-annually and mature on March 13, 2028. The offering is led by BofA Securities, Goldman Sachs, and Morgan Stanley as joint book-running managers, with closure expected around March 13, 2023. This press release does not constitute a redemption notice for the 2023 Senior Notes. For more details, interested parties should refer to the prospectus supplement filed with the SEC.
Popular, Inc. (NASDAQ: BPOP) announced a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on March 31, 2023, to holders of record as of March 15, 2023.
The company also declared a monthly distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities, payable on April 3, 2023, to holders of record as of March 15, 2023.
Popular, Inc. (NASDAQ: BPOP) has declared a quarterly cash dividend of
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share on its Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on February 28, 2023, to holders of record as of February 15, 2023. Additionally, a monthly distribution of $0.127604 per security will be made on its Cumulative Monthly Income Trust Preferred Securities, payable on March 1, 2023, to holders of record as of February 15, 2023. Popular, Inc. continues to be a leading financial institution in Puerto Rico, with substantial assets and deposits.
Popular, Inc. (NASDAQ:BPOP) reported a net income of $257.1 million for Q4 2022, down from $422.4 million in Q3 2022, impacted by a $68.2 million tax benefit. For 2022, net income reached $1.1 billion, a rise from $934.9 million in 2021. The net interest margin was 3.28% for Q4 2022, down from 3.32% in Q3 2022. Non-performing loans decreased by $14.0 million and the allowance for credit losses to loans was 2.25%. The company launched a multi-year transformation initiative with expected expenses of $50 million in 2023. It also returned $631 million to shareholders through repurchases and increased its dividend to $0.55 per share.
Popular, Inc. (NASDAQ:BPOP) is set to announce its fourth quarter financial results for the period ending December 31, 2022, before market opens on January 25, 2023. A conference call discussing the results will take place at 10:00 a.m. Eastern Time the same day, accessible via the company's website or through dial-in numbers. Popular, a leading financial institution in Puerto Rico, offers various banking services in the region and the mainland U.S., including retail, mortgage, and commercial banking.
FAQ
What is the current stock price of Popular (BPOP)?
What is the market cap of Popular (BPOP)?
What is Popular Inc. (BPOP)?
Who are Popular Inc.'s primary clients?
What services does Banco Popular de Puerto Rico offer?
How extensive is Banco Popular de Puerto Rico's reach?
What other subsidiaries are part of Popular Inc.?
What are the core values of Popular Inc.?
How long has Popular Inc. been in operation?
How many employees does Popular Inc. have?
How does Popular Inc. ensure high-quality service?
Where can I find the latest news about Popular Inc.?
