Popular Inc. (NASDAQ:BPOP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Popular, Inc. is a diversified, publicly owned bank holding company. The corporation’s principal subsidiary, Banco Popular de Puerto Rico, has one of the largest retail franchise in Puerto Rico, operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands, the British Virgin Islands, and New York. “
Several other research firms have also commented on BPOP. Barclays PLC began coverage on Popular in a research report on Thursday, June 23rd. They set an “equal weight” rating and a $32.00 price target for the company. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Popular in a research report on Wednesday. Piper Jaffray Cos. restated an “overweight” rating and set a $48.00 price target on shares of Popular in a research report on Friday, August 26th. BTIG Research restated a “buy” rating and set a $41.00 price target on shares of Popular in a research report on Tuesday, July 12th. Finally, TheStreet upgraded Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $37.29.
Shares of Popular (NASDAQ:BPOP) traded down 2.10% during trading on Thursday, hitting $36.91. The stock had a trading volume of 566,176 shares. Popular has a 52-week low of $22.40 and a 52-week high of $39.88. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 9.68 and a beta of 1.73. The firm’s 50-day moving average is $38.64 and its 200 day moving average is $32.75.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. Popular had a return on equity of 7.06% and a net margin of 18.69%. During the same period last year, the business earned $5.79 earnings per share. On average, analysts expect that Popular will post $3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.63%. Popular’s dividend payout ratio (DPR) is 15.79%.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Popular by 7.2% in the second quarter. Vanguard Group Inc. now owns 8,816,983 shares of the company’s stock worth $258,337,000 after buying an additional 595,934 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Popular by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,446,248 shares of the company’s stock worth $100,970,000 after buying an additional 556,697 shares during the period. Chartwell Investment Partners LLC boosted its stake in shares of Popular by 4.0% in the second quarter. Chartwell Investment Partners LLC now owns 3,327,109 shares of the company’s stock worth $97,484,000 after buying an additional 127,999 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Popular by 3.7% in the second quarter. Frontier Capital Management Co. LLC now owns 2,624,103 shares of the company’s stock worth $76,886,000 after buying an additional 93,603 shares during the period. Finally, Carlson Capital L P boosted its stake in shares of Popular by 15.8% in the second quarter. Carlson Capital L P now owns 2,200,016 shares of the company’s stock worth $64,460,000 after buying an additional 300,016 shares during the period. 84.10% of the stock is owned by hedge funds and other institutional investors.
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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