Puerto Rico's Popular Q1 net income rises

Popular

23/04/2026 12:18

Overview

Puerto Rico bank's Q1 net income and EPS rose from prior quarter

Net interest income increased, driven by lower deposit costs and higher U.S. Treasury income

Company repurchased 1.16 mln shares for $155 mln in Q1

Outlook

Popular says Puerto Rico and U.S. economies remain resilient with healthy business performance

Company says it is investing in operational capabilities to support strategic objectives

Popular says it is focused on maintaining a disciplined approach amid macroeconomic uncertainty

Result Drivers

LOWER DEPOSIT COSTS - Net interest income rose mainly due to reduced interest expense on deposits, particularly Puerto Rico public deposits

HIGHER U.S. TREASURY INCOME - Increased income from U.S. Treasury securities contributed to higher net interest income

LOWER OPERATING EXPENSES - Operating expenses declined, mainly due to lower personnel costs, reduced business promotion expenses, and lower professional fees

Company press release: ID:nBw6xRVDpa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$3.78
Q1 Net Income
$245.67 mln
Q1 Net Interest Income
$670.18 mln
Q1 Credit Loss Provision
$75.89 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "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 is $156.00, about 5.2% above its April 22 closing price of $148.30

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)