Popular Inc (NASDAQ:BPOP) Short Interest Update

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Popular Inc (NASDAQ:BPOP) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,120,000 shares, a decrease of 5.1% from the April 30th total of 1,180,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 0.9 days. Approximately 1.3% of the company’s shares are sold short.

Shares of Popular stock opened at $37.19 on Friday. The business has a 50-day moving average of $35.89 and a 200-day moving average of $48.54. The company has a market capitalization of $3.23 billion, a PE ratio of 6.70 and a beta of 1.28. Popular has a 1-year low of $23.69 and a 1-year high of $61.46.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, April 30th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($1.00). The business had revenue of $599.74 million for the quarter, compared to analyst estimates of $604.57 million. Popular had a net margin of 18.98% and a return on equity of 9.23%. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, sell-side analysts expect that Popular will post 3.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Tuesday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.60 annualized dividend and a dividend yield of 4.30%. Popular’s dividend payout ratio is presently 23.26%.

Several analysts recently issued reports on the company. TheStreet downgraded Popular from a “b-” rating to a “c” rating in a report on Friday, March 20th. BTIG Research reiterated a “buy” rating and issued a $54.00 price target on shares of Popular in a report on Thursday, April 30th. ValuEngine upgraded Popular from a “sell” rating to a “hold” rating in a report on Monday, March 30th. Citigroup lowered their price target on Popular from $66.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, March 24th. Finally, BidaskClub downgraded Popular from a “hold” rating to a “sell” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.67.

Several institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL grew its stake in shares of Popular by 0.7% during the fourth quarter. Virginia Retirement Systems ET AL now owns 30,100 shares of the bank’s stock valued at $1,768,000 after acquiring an additional 200 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in shares of Popular by 2.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 9,726 shares of the bank’s stock valued at $571,000 after acquiring an additional 274 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of Popular by 2.7% during the fourth quarter. Guggenheim Capital LLC now owns 11,175 shares of the bank’s stock valued at $656,000 after acquiring an additional 299 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Popular by 27.9% during the fourth quarter. Toronto Dominion Bank now owns 1,525 shares of the bank’s stock worth $90,000 after purchasing an additional 333 shares during the last quarter. Finally, Rock Point Advisors LLC lifted its position in shares of Popular by 0.5% during the fourth quarter. Rock Point Advisors LLC now owns 73,615 shares of the bank’s stock worth $4,325,000 after purchasing an additional 365 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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