Popular, Inc. (NASDAQ:BPOP) has been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $48.00.
Several equities analysts have recently weighed in on BPOP shares. BidaskClub upgraded shares of Popular from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating and set a $51.00 price objective on shares of Popular in a report on Thursday, June 29th. Zacks Investment Research lowered shares of Popular from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price objective (up previously from $42.00) on shares of Popular in a report on Friday, July 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 price objective on shares of Popular in a report on Friday, July 28th.
Shares of Popular (NASDAQ:BPOP) traded up 0.40% during mid-day trading on Wednesday, reaching $35.36. The company had a trading volume of 739,313 shares. Popular has a one year low of $34.45 and a one year high of $45.96. The stock has a 50 day moving average of $38.70 and a 200-day moving average of $39.84. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 15.97 and a beta of 1.25.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The firm had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities analysts predict that Popular will post $3.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Wednesday, September 13th. Popular’s payout ratio is currently 45.05%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its stake in Popular by 18.2% in the 1st quarter. Morgan Stanley now owns 567,202 shares of the bank’s stock worth $23,102,000 after purchasing an additional 87,306 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Popular by 3.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock worth $63,098,000 after purchasing an additional 53,446 shares in the last quarter. Prudential Financial Inc. lifted its stake in Popular by 36.1% in the 2nd quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock worth $22,996,000 after purchasing an additional 146,370 shares in the last quarter. Aperio Group LLC lifted its stake in Popular by 0.4% in the 2nd quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock worth $4,316,000 after purchasing an additional 380 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in Popular by 35.1% in the 2nd quarter. Royce & Associates LP now owns 223,300 shares of the bank’s stock worth $9,314,000 after purchasing an additional 58,000 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.
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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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