Barclays PLC upgraded shares of Popular, Inc. (NASDAQ:BPOP) from an equal weight rating to an overweight rating in a report released on Thursday. The firm currently has $40.00 price target on the bank’s stock.
BPOP has been the topic of a number of other research reports. Zacks Investment Research downgraded Popular from a buy rating to a sell rating in a research note on Tuesday, October 3rd. Royal Bank Of Canada reaffirmed a buy rating and issued a $51.00 price objective on shares of Popular in a research note on Thursday, June 29th. ValuEngine raised Popular from a hold rating to a buy rating in a research note on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a buy rating and issued a $53.00 price objective on shares of Popular in a research note on Friday, July 28th. Finally, BidaskClub raised Popular from a sell rating to a hold rating in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $46.33.
Popular (NASDAQ BPOP) traded down 3.16% on Thursday, hitting $34.63. 1,604,819 shares of the company traded hands. The firm has a market capitalization of $3.53 billion, a PE ratio of 15.64 and a beta of 1.25. Popular has a 1-year low of $32.05 and a 1-year high of $45.96. The firm’s 50 day moving average price is $36.40 and its 200 day moving average price is $39.23.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Popular had a return on equity of 7.11% and a net margin of 11.57%. The business had revenue of $491.27 million for the quarter, compared to the consensus estimate of $500.66 million. During the same quarter in the previous year, the company posted $0.85 EPS. Equities research analysts predict that Popular will post $3.76 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Wednesday, September 13th. Popular’s dividend payout ratio is currently 45.05%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPOP. BlackRock Inc. increased its position in shares of Popular by 13,970.4% during the 1st quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock valued at $181,886,000 after purchasing an additional 4,433,912 shares during the last quarter. Polaris Capital Management LLC increased its position in shares of Popular by 35.9% during the 2nd quarter. Polaris Capital Management LLC now owns 3,149,712 shares of the bank’s stock valued at $131,374,000 after purchasing an additional 831,871 shares during the last quarter. Stilwell Value LLC increased its position in shares of Popular by 4,071.0% during the 2nd quarter. Stilwell Value LLC now owns 834,200 shares of the bank’s stock valued at $834,000 after purchasing an additional 814,200 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Popular by 5.8% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,261,030 shares of the bank’s stock valued at $261,148,000 after purchasing an additional 343,637 shares during the last quarter. Finally, State Street Corp increased its position in shares of Popular by 8.9% during the 1st quarter. State Street Corp now owns 3,184,081 shares of the bank’s stock valued at $129,690,000 after purchasing an additional 261,496 shares during the last quarter. 85.92% of the stock is currently owned by hedge funds and other institutional investors.
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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