Overview

* Popular Q2 net income rises to $210.4 mln from $177.5 mln in Q1

* EPS increases to $3.09 in Q2

* Co previously this month announced $500 mln stock repurchase program and dividend increase

Result Drivers

* NET INTEREST INCOME - Increase driven by higher average deposits and loan growth across commercial, mortgage, and auto portfolios

* NON-INTEREST INCOME - Rise due to market-driven adjustments and increased service fees, including credit card and insurance fees

* CREDIT QUALITY IMPROVEMENT - Reduction in non-performing loans and net charge-offs, supported by favorable changes in economic assumptions

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $3.09

Q2 Net $210.44

Income mln

Q2 Net $631.55

Interest mln

Income

Q2 $48.94

Credit mln

Loss

Provisio

n

Q2 $492.76

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Popular Inc ( BPOP ) is $125.50, about 8.2% above its July 22 closing price of $115.22

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)