Shares of Popular Inc. (NASDAQ:BPOP) have received a consensus recommendation of “Buy” from the ten analysts that are presently covering the company. Four equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.80.
BPOP has been the subject of a number of recent analyst reports. Barclays PLC initiated coverage on shares of Popular in a report on Thursday, June 23rd. They set an “equal weight” rating and a $32.00 price target for the company. BTIG Research reaffirmed a “buy” rating and set a $41.00 price target on shares of Popular in a report on Tuesday, July 12th. Zacks Investment Research downgraded shares of Popular from a “hold” rating to a “strong sell” rating in a report on Friday, July 8th. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $48.00 price target on shares of Popular in a report on Friday, August 26th.
A number of institutional investors have recently made changes to their positions in BPOP. Sei Investments Co. boosted its position in shares of Popular by 94.2% in the second quarter. Sei Investments Co. now owns 5,871 shares of the company’s stock valued at $173,000 after buying an additional 2,848 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Popular by 36.7% in the first quarter. Envestnet Asset Management Inc. now owns 6,480 shares of the company’s stock valued at $185,000 after buying an additional 1,738 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Popular during the second quarter valued at about $195,000. Prudential Financial Inc. acquired a new position in shares of Popular during the second quarter valued at about $222,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Popular during the second quarter valued at about $223,000. Hedge funds and other institutional investors own 84.10% of the company’s stock.
Shares of Popular (NASDAQ:BPOP) opened at 38.22 on Thursday. The company has a 50 day moving average of $38.42 and a 200 day moving average of $32.16. Popular has a 1-year low of $22.40 and a 1-year high of $39.88. The company has a market cap of $3.96 billion, a PE ratio of 10.02 and a beta of 1.91.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. Popular had a net margin of 18.69% and a return on equity of 7.06%. During the same quarter in the prior year, the firm posted $5.79 earnings per share. Equities analysts expect that Popular will post $3.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 7th. Popular’s dividend payout ratio (DPR) is currently 15.79%.
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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