Popular, Inc. (BPOP) Given Average Recommendation of “Hold” by Brokerages
Popular, Inc. (NASDAQ:BPOP) has received a consensus rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $46.60.
BPOP has been the subject of a number of recent research reports. BTIG Research reaffirmed a “neutral” rating on shares of Popular in a report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $46.00 target price on Popular and gave the stock a “hold” rating in a report on Monday, April 3rd. TheStreet raised Popular from a “c+” rating to a “b” rating in a report on Tuesday, April 25th. Morgan Stanley lowered their target price on Popular from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, June 6th. Finally, BidaskClub raised Popular from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th.
In other Popular news, Director Alejandro M. Ballester sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $42.15, for a total value of $126,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider O. Rivera Nestor sold 11,312 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $41.52, for a total transaction of $469,674.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,806 shares of company stock valued at $932,921. Corporate insiders own 1.27% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Popular by 13,970.4% in the first quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock valued at $181,886,000 after buying an additional 4,433,912 shares during the period. AQR Capital Management LLC boosted its position in shares of Popular by 37.9% in the first quarter. AQR Capital Management LLC now owns 3,334,844 shares of the bank’s stock valued at $135,829,000 after buying an additional 916,126 shares during the period. Norges Bank acquired a new position in shares of Popular during the fourth quarter valued at about $39,980,000. State Street Corp boosted its position in shares of Popular by 32.9% in the fourth quarter. State Street Corp now owns 2,922,585 shares of the bank’s stock valued at $128,074,000 after buying an additional 723,618 shares during the period. Finally, Martingale Asset Management L P boosted its position in shares of Popular by 528.3% in the first quarter. Martingale Asset Management L P now owns 716,537 shares of the bank’s stock valued at $29,185,000 after buying an additional 602,487 shares during the period. Hedge funds and other institutional investors own 86.73% of the company’s stock.
Shares of Popular (BPOP) traded up 0.26% during midday trading on Monday, hitting $39.17. The stock had a trading volume of 551,041 shares. The stock has a market cap of $3.99 billion, a PE ratio of 18.30 and a beta of 1.32. Popular has a 52 week low of $26.72 and a 52 week high of $45.96. The stock has a 50-day moving average of $39.18 and a 200 day moving average of $41.82.
Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, April 25th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. Popular had a return on equity of 6.94% and a net margin of 11.34%. The business had revenue of $477.97 million during the quarter, compared to analysts’ expectations of $441.33 million. During the same quarter in the prior year, the firm earned $0.81 EPS. Analysts anticipate that Popular will post $3.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, June 7th. Popular’s dividend payout ratio (DPR) is currently 46.95%.
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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