Popular, Inc. (BPOP) Given Consensus Recommendation of “Hold” by Brokerages
Popular, Inc. (NASDAQ:BPOP) has received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $48.00.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Popular from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Morgan Stanley decreased their price objective on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 6th. BidaskClub upgraded shares of Popular from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $51.00 target price on shares of Popular in a research note on Thursday, June 29th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $53.00 target price on shares of Popular in a research report on Friday, July 28th.
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Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its stake in Popular by 3.2% during the 1st quarter. US Bancorp DE now owns 14,031 shares of the bank’s stock valued at $572,000 after acquiring an additional 440 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Popular by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 558,663 shares of the bank’s stock valued at $22,756,000 after acquiring an additional 7,375 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Popular by 13.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 94,091 shares of the bank’s stock valued at $3,832,000 after acquiring an additional 11,322 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Popular by 20.4% in the 1st quarter. Ameriprise Financial Inc. now owns 280,127 shares of the bank’s stock valued at $11,413,000 after acquiring an additional 47,382 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Popular by 15.1% in the 1st quarter. Nordea Investment Management AB now owns 34,400 shares of the bank’s stock valued at $1,401,000 after acquiring an additional 4,500 shares during the last quarter. 85.84% of the stock is owned by institutional investors.
Shares of Popular (BPOP) traded down 1.22% on Wednesday, reaching $34.73. 2,458,737 shares of the company were exchanged. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 15.69 and a beta of 1.25. The firm’s 50 day moving average price is $39.13 and its 200 day moving average price is $39.94. Popular has a 52 week low of $34.45 and a 52 week high of $45.96.
Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Popular had a return on equity of 7.11% and a net margin of 11.57%. The company had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. During the same period in the prior year, the company posted $0.85 EPS. Equities research analysts anticipate that Popular will post $3.79 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were given a $0.25 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.88%. Popular’s dividend payout ratio is currently 45.05%.
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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