Keefe, Bruyette & Woods Reiterates Outperform Rating for Popular Inc. (BPOP)
Popular Inc. (NASDAQ:BPOP)‘s stock had its “outperform” rating reissued by Keefe, Bruyette & Woods in a note issued to investors on Wednesday.
Several other research analysts have also commented on BPOP. Barclays PLC started coverage on shares of Popular in a research note on Thursday, June 23rd. They set an “equal weight” rating and a $32.00 price target on the stock. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. BTIG Research reaffirmed a “buy” rating and set a $41.00 price objective on shares of Popular in a report on Tuesday, July 12th. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Popular in a report on Friday, August 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.29.
Shares of Popular (NASDAQ:BPOP) traded down 1.15% during midday trading on Wednesday, hitting $37.94. 264,098 shares of the company were exchanged. Popular has a one year low of $22.40 and a one year high of $39.88. The stock’s 50-day moving average is $38.65 and its 200-day moving average is $32.71. The stock has a market cap of $3.94 billion, a PE ratio of 9.95 and a beta of 1.73.
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Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.04. Popular had a net margin of 18.69% and a return on equity of 7.06%. During the same quarter last year, the business posted $5.79 EPS. Equities research analysts anticipate that Popular will post $3.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, September 7th. Popular’s payout ratio is 15.79%.
Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Popular by 94.2% in the second quarter. Sei Investments Co. now owns 5,871 shares of the company’s stock worth $173,000 after buying an additional 2,848 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Popular during the second quarter worth approximately $195,000. Prudential Financial Inc. acquired a new position in Popular during the second quarter worth approximately $222,000. Zweig DiMenna Associates LLC acquired a new position in Popular during the second quarter worth approximately $223,000. Finally, Calvert Investment Management Inc. increased its position in Popular by 11.5% in the second quarter. Calvert Investment Management Inc. now owns 8,339 shares of the company’s stock worth $244,000 after buying an additional 859 shares during the last quarter. 84.10% of the stock is owned by institutional investors.
Popular Company Profile
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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