Popular, Inc. (BPOP) Receives Consensus Rating of “Hold” from Analysts
Popular, Inc. (NASDAQ:BPOP) has been given an average rating of “Hold” by the twelve research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $47.00.
BPOP has been the topic of several analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Popular in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $46.00 price target on Popular and gave the stock a “hold” rating in a research report on Monday, April 3rd. TheStreet raised Popular from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. Morgan Stanley lowered their target price on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 6th. Finally, BidaskClub raised shares of Popular from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th.
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Popular (NASDAQ BPOP) traded down 0.84% during trading on Friday, reaching $41.44. The company had a trading volume of 215,263 shares. The firm has a market capitalization of $4.23 billion, a P/E ratio of 19.36 and a beta of 1.28. Popular has a 52 week low of $30.44 and a 52 week high of $45.96. The stock has a 50 day moving average price of $40.09 and a 200 day moving average price of $41.40.
Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, April 25th. The bank reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $477.97 million for the quarter, compared to the consensus estimate of $441.33 million. Popular had a return on equity of 6.94% and a net margin of 11.34%. During the same period last year, the firm earned $0.81 EPS. Analysts predict that Popular will post $3.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, June 7th. Popular’s payout ratio is currently 46.95%.
In other news, Director Alejandro M. Ballester sold 3,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $42.15, for a total transaction of $126,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jorge J. Garcia sold 4,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $38.15, for a total transaction of $152,600.00. Following the sale, the vice president now directly owns 11,502 shares in the company, valued at $438,801.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,806 shares of company stock worth $932,921. Corporate insiders own 1.27% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC raised its position in shares of Popular by 17.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,251 shares of the bank’s stock worth $295,000 after buying an additional 1,070 shares in the last quarter. First Mercantile Trust Co. raised its position in shares of Popular by 16.9% in the first quarter. First Mercantile Trust Co. now owns 10,649 shares of the bank’s stock worth $434,000 after buying an additional 1,539 shares in the last quarter. Heartland Advisors Inc. raised its position in shares of Popular by 4.9% in the first quarter. Heartland Advisors Inc. now owns 11,621 shares of the bank’s stock worth $473,000 after buying an additional 539 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Popular by 19.1% in the first quarter. SG Americas Securities LLC now owns 12,485 shares of the bank’s stock worth $509,000 after buying an additional 2,005 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Popular during the first quarter worth $511,000. 86.68% of the stock is currently owned by hedge funds and other 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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