Popular, Inc. (BPOP) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Popular, Inc. (NASDAQ:BPOP) have received a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $47.17.
Several research firms have recently weighed in on BPOP. Morgan Stanley decreased their target price on Popular from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 6th. Zacks Investment Research downgraded Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub upgraded Popular from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 target price on shares of Popular in a research report on Friday, July 28th. Finally, Keefe, Bruyette & Woods set a $46.00 price objective on Popular and gave the stock a “hold” rating in a research report on Monday, June 5th.
Shares of Popular (NASDAQ BPOP) traded up 0.57% during mid-day trading on Friday, hitting $38.56. The stock had a trading volume of 921,349 shares. The stock has a market cap of $3.93 billion, a P/E ratio of 17.42 and a beta of 1.29. The firm has a 50 day moving average of $40.56 and a 200-day moving average of $40.49. Popular has a one year low of $35.08 and a one year high of $45.96.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. The company had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. Popular had a return on equity of 7.11% and a net margin of 11.57%. During the same period last year, the company earned $0.85 earnings per share. Equities research analysts expect that Popular will post $3.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Popular’s dividend payout ratio is currently 45.05%.
A number of large investors have recently bought and sold shares of BPOP. BlackRock Inc. raised its position in 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 purchasing an additional 4,433,912 shares during the period. AQR Capital Management LLC grew its stake 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 in the last quarter. Polaris Capital Management LLC grew its stake in shares of Popular by 35.9% in the second quarter. Polaris Capital Management LLC now owns 3,149,712 shares of the bank’s stock valued at $131,374,000 after buying an additional 831,871 shares in the last quarter. Martingale Asset Management L P grew its stake 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 in the last quarter. Finally, Point72 Europe London LLP grew its stake in shares of Popular by 165.2% in the first quarter. Point72 Europe London LLP now owns 906,306 shares of the bank’s stock valued at $36,914,000 after buying an additional 564,544 shares in the last quarter. Institutional investors own 85.85% of the company’s stock.
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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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