Stock Track | Popular Soars 5.29% Intraday After Q4 Earnings Beat Driven by Lower Interest Expenses

Stock Track01-27

Popular's stock surged 5.29% during intraday trading on Tuesday following the release of its fourth-quarter financial results, which significantly exceeded analyst expectations.

The financial services firm reported quarterly earnings of $3.53 per diluted share, beating the FactSet consensus estimate of $3.04 and showing a substantial increase from $2.51 per share in the same period last year. The company's net income rose to $233.9 million, supported by higher net interest income driven by lower interest expenses on deposits and increased loan income.

Additional positive factors included a decrease in operating expenses due to a partial reversal of the FDIC special assessment reserve, stable credit quality with decreased non-performing loans, and share repurchases totaling $147.8 million during the quarter. Wall Street analysts maintain a positive outlook, with an average "buy" rating and a median price target suggesting further upside potential.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment