Popular Posts $266.3M Third-Quarter Net Income
BPOP sits 49% above its 52-week low of $108.74.
Summary
Popular reported third-quarter net income of $266.3 million, down from the $278.2 million it earned in the second quarter, with EPS of $4.21 and a return on tangible common equity of 15.8%. The sequential decline is modest but breaks the upward trend from Q2, when net income rose 32% year-over-year on a 3.66% net interest margin; the third quarter's FTE net interest margin came in at 4.16%. The quarter included a $58.6 million provision for credit losses, after Q2 included a $71.3 million charge-off on a single credit. The company also has a $1 billion buyback and a freshly raised $0.90 quarterly dividend in place, which support per-share results even if net income softens. Popular cut its 2026 loan growth forecast to 2%.
At the time of this announcement, BPOP was trading at $162.25 on NASDAQ in the Finance sector, with a market capitalization of approximately $10.3B. The 52-week trading range was $108.74 to $179.24. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.