Kwanchanok Taen-onAs many of my loyal followers and readers know, I’m a big fan of the net lease juggernaut known as Realty Income (O). I’ve been a shareholder in the San Diego-based REIT for over a decade, and I’ve witnessed the evolution of the company – from a small landlord to Taco Bell to a gigantic net lease consolidator with over 15,500 properties in all 50 states and Europe. Based on fundamentals, there is little doubt that Realty Income deserves space in an intelligent REIT portfolio. The stalw ...

Popular, Inc. (NASDAQ:BPOP) Q2 2024 Earnings Conference Call July 24, 2024 11:00 AM ET Company Participants Paul Cardillo - IR Officer Ignacio Alvarez - CEO Jorge Garcia - CFO Lidio Soriano - CRO Conference Call Participants Kelly Motta - KBW Timur Braziler - Wells Fargo Jared Shaw - Barclays Thomas Leddy - RBC Operator Hello, and welcome to the Popular, Inc. 2Q Earnings Call. My name is Elliot, and I will be coordinating your call today. [Operator Instructions] I'd now like to hand over to Paul Cardillo, I ...

Financial Performance - Net income for Q2 2024 was $177.8 million, up from $103.3 million in Q1 2024, representing a 72% increase[7]. - Excluding certain transactions, adjusted net income increased by $42.6 million compared to adjusted net income of $135.2 million in Q1 2024[8]. - Basic EPS for the quarter ended June 30, 2024, was $2.47, up from $1.43 in the previous quarter and $2.10 a year ago[65]. - Net income for Q2 2024 was $177,789 thousand, a significant increase of 72.1% compared to $103,283 thousand in Q2 2023[75]. - Diluted net income per common share for Q2 2024 was $2.46, compared to $1.43 in Q2 2023, representing a growth of 72.0%[75]. Income and Revenue - Total interest income for Q2 2024 was $921,907 thousand, an increase of 3.1% from Q1 2024 and up 15.9% from Q2 2023[74]. - Net interest income reached $568.3 million, an increase of $17.6 million from Q1 2024[8]. - Non-interest income was $166.3 million, compared to $163.8 million in Q1 2024[8]. - Total non-interest income for Q2 2024 was $166,306 thousand, an increase of 1.5% from Q1 2024[74]. - Non-interest income rose to $166.3 million in Q2 2024, an increase of $2.5 million from $163.8 million in Q1 2024, primarily driven by higher service fees[29]. Expenses and Efficiency - Operating expenses totaled $469.6 million in Q2 2024, a decrease of $13.5 million from Q1 2024, but increased by $7.2 million compared to adjusted expenses[34]. - Total operating expenses decreased to $469,576 thousand in Q2 2024, down 2.8% from $483,113 thousand in Q1 2024[75]. - The total personnel costs for Q2 2024 were $197,424 thousand, a decrease of 8.3% from Q1 2024[74]. Asset and Deposit Growth - Total assets increased to $72.8 billion as of June 30, 2024, up $1.9 billion from the previous quarter, driven by higher cash and money market investments, securities available-for-sale, and loans held-in-portfolio[55]. - Ending deposit balances rose to $65.5 billion, an increase of $1.7 billion from Q1 2024[9]. - Total deposits rose to $65,530,862 thousand, reflecting an increase of $1,722,078 thousand compared to the prior quarter[77]. - Deposits rose by $1.7 billion, primarily in the Puerto Rico public sector, with time deposit balances at Popular Bank increasing despite demand deposit outflows at BPPR[56]. Credit Quality and Allowance for Credit Losses - Credit quality metrics improved, with non-performing loans decreasing by $12.3 million and net charge-offs down by $8.6 million from Q1 2024[8]. - Non-performing loans decreased by $12.3 million to $341.8 million as of June 30, 2024, with a ratio of non-performing loans to total loans held-in-portfolio at 1.0%[40]. - The allowance for credit losses was $730.1 million as of June 30, 2024, with a ratio of 2.05% to loans held-in-portfolio, down from 2.11% in the previous quarter[45]. - The provision for credit losses for Q2 2024 was $44.2 million, significantly lower than $72.4 million in Q1 2024, reflecting improvements in credit quality[47]. - The total allowance for credit losses (ACL) reached $730,077,000, representing 2.05% of total loans held-in-portfolio of $35,591,620,000 as of June 30, 2024[110]. Stockholder Returns and Capital Management - The company announced a 13% increase in its quarterly common stock dividend, raising it from $0.62 to $0.70 per share[12]. - A common stock repurchase authorization of up to $500 million was also announced[14]. - Stockholders' equity increased by $195.4 million from the first quarter of 2024, mainly due to net income of $177.8 million and changes in accumulated other comprehensive loss[57]. - Total stockholders' equity increased to $5,372,678,000 as of June 30, 2024, compared to $5,177,314,000 on March 31, 2024[122]. Market Performance - Market capitalization reached $6.399 billion as of June 30, 2024, compared to $6.368 billion in the previous quarter[65]. - Return on average assets increased to 0.97% for the quarter, compared to 0.57% in the previous quarter[65]. - Return on average common equity rose to 10.38% from 6.07% in the previous quarter[65]. Employee Metrics - Full-time equivalent employees increased to 9,241 as of June 30, 2024, from 9,132 as of March 31, 2024[35].

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits. The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. ...

Revenues are expected to be $728.83 million, up 5.3% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction mo ...

Set to Beat the Market? The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with BPOP. Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost BPOP's consensus estimate, increasing from $8.31 to $8.36 in the past ...

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However, some Wall Street analysts think the stocks have gotten ahead of themselves. Their 12-month price targets imply substantial downside for shareholders. Palantir Technologies: 67% implied downside In the bear camp, Gartner ranks Palantir below most peers in data integration tools, and the consultancy did not even mention Palantir in a recent report on data science and ML platforms. Last year, Rishi Jaluria at RBC Capital said conversations with industry experts and company employees suggest Palantir " ...

Company Strategy and Innovation - iQIYI launched AI-powered chatbots on its app and Weibo to enhance viewer engagement with fictional characters from its popular shows, reflecting its commitment to leveraging technology for content interaction [1] - The chatbots, developed by iQIYI's AIGC Interactive Center, use large language models (LLMs) to authentically portray characters' personalities and knowledge of their fictional universes, deepening audience engagement with storylines [2] - The chatbots are continuously updated with new plot developments for ongoing series, enabling fans to discuss the latest twists and turns in real-time [2] - This feature is part of iQIYI's broader strategy to foster deeper connections between viewers and content, alongside other interactive features like 3D emojis for bullet comments in its Apple Vision Pro app and Karaoke Mode in music variety shows [3] User Experience and Features - Within the iQIYI app, users can engage in text conversations and receive voice messages from their favorite characters, bringing iconic scenes and memorable dialogues to life [4] - The feature offers a personalized touch, allowing fans to receive custom greetings and unlock exclusive behind-the-scenes content for certain characters [4] - On Weibo, users can interact with chatbots based on characters from iQIYI's hit drama *My Journey to You* and variety show *The Rap of China 2024* [5] - Additional characters from widely acclaimed IPs, such as *Love Between Fairy and Devil*, are set to launch soon on Weibo [5]

Combined, the communities offer four stunning single-family home collections, featuring a versatile mix of single- and two-story floor plans that start from the mid $500s. In addition, each home includes contemporary open-concept layouts, designer-selected finishes, and modern features like the builder's Century Home Connect® smart home package. "We're thrilled to join Twelve Bridges and SOMO Village, two dynamic planned communities that offer homebuyers an exceptional blend of floor plan selections in high ...