Popular Expects $150 Million to $200 Million in Q4 Buybacks

Popular expects to repurchase $150 million to $200 million of common stock in the fourth quarter, while maintaining its 2026 forecast for about 8.5% growth in net interest income.

Chief Financial Officer Lidio Soriano gave the repurchase range during Popular’s Oct. 22 earnings call. He said a similar quarterly range was expected in 2027 under current conditions.

Popular repurchased 1,060,241 shares for $179 million in the third quarter, at an average price of $168.40 per share. The completed buybacks were included in the company’s third-quarter results.

Third-quarter net interest income was $698.930 million, up $5.511 million from the second quarter and $52.425 million from the year-earlier quarter. Net interest margin was 3.63%, down three basis points from the second quarter.

Popular also raised its full-year 2026 outlook for annualized net charge-offs to 80 to 90 basis points, from an original range of 55 to 70 basis points. The bank tied the change to charge-offs so far this year and inflows of nonperforming loans in its commercial portfolio.

Popular operates in Puerto Rico, the United States and the U.S. Virgin Islands. It describes itself as Puerto Rico’s largest banking institution by assets and deposits.