BPOP - Popular: Earnings Likely To Trend Upwards But Risks Remain
Earnings of Popular, Inc. (NASDAQ: BPOP) increased to $1.49 per share in the second quarter from $0.37 per share in the first quarter of 2020. The earnings improvement was attributable to a lower provision expense and a reduction in non-interest expenses. Earnings will likely continue to improve in the year ahead because the economic outlook appears stable, which will ease the pressure on provision expense. Additionally, fees from the Paycheck Protection Program ((PPP)) will boost net income in the remainder of the year. Consequently, I’m expecting earnings to increase by 42% in the second