Popular’s (BPOP) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods
Popular Inc. (NASDAQ:BPOP)‘s stock had its “outperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a research note issued on Wednesday.
A number of other equities research analysts have also issued reports on BPOP. Zacks Investment Research lowered Popular from a “hold” rating to a “strong sell” rating in a research note on Friday, July 8th. Barclays PLC began coverage on Popular in a report on Thursday, June 23rd. They set an “equal weight” rating and a $32.00 price objective on the stock. Piper Jaffray Cos. restated an “overweight” rating and set a $48.00 price objective on shares of Popular in a report on Friday, August 26th. BTIG Research restated a “buy” rating and set a $41.00 price objective on shares of Popular in a report on Tuesday, July 12th. Finally, TheStreet upgraded Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.29.
Shares of Popular (NASDAQ:BPOP) traded down 1.64% during midday trading on Wednesday, hitting $37.75. The stock had a trading volume of 423,410 shares. Popular has a 12 month low of $22.40 and a 12 month high of $39.88. The stock has a market cap of $3.92 billion, a PE ratio of 9.90 and a beta of 1.73. The stock’s 50-day moving average is $38.65 and its 200-day moving average is $32.71.
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Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. Popular had a return on equity of 7.06% and a net margin of 18.69%. During the same period last year, the business posted $5.79 earnings per share. Equities analysts anticipate that Popular will post $3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.56%. Popular’s dividend payout ratio (DPR) is presently 15.79%.
Institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of Popular by 94.2% in the second quarter. Sei Investments Co. now owns 5,871 shares of the company’s stock valued at $173,000 after buying an additional 2,848 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Popular during the second quarter worth $195,000. Prudential Financial Inc. acquired a new position in Popular during the second quarter worth $222,000. Zweig DiMenna Associates LLC acquired a new position in Popular during the second quarter worth $223,000. Finally, Calvert Investment Management Inc. boosted 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 and hedge funds.
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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