Popular Inc (NASDAQ:BPOP) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $48.50.
Several equities research analysts recently issued reports on BPOP shares. Citigroup dropped their price objective on Popular from $66.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday. ValuEngine cut Popular from a “hold” rating to a “sell” rating in a research report on Tuesday, March 3rd. TheStreet lowered shares of Popular from a “b-” rating to a “c” rating in a research note on Friday, March 20th. BidaskClub upgraded Popular from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Finally, BTIG Research dropped their price objective on shares of Popular from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th.
Shares of NASDAQ:BPOP opened at $35.51 on Tuesday. The business’s 50 day simple moving average is $45.52 and its two-hundred day simple moving average is $53.64. The firm has a market cap of $2.93 billion, a P/E ratio of 5.17 and a beta of 1.19. Popular has a 52-week low of $23.69 and a 52-week high of $61.46.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.25. Popular had a return on equity of 11.67% and a net margin of 23.58%. The company had revenue of $619.84 million during the quarter, compared to the consensus estimate of $568.25 million. During the same period last year, the business posted $1.33 earnings per share. On average, equities research analysts expect that Popular will post 6.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 19th will be issued a dividend of $0.40 per share. This is an increase from Popular’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 4.51%. Popular’s payout ratio is 23.26%.
Several institutional investors and hedge funds have recently made changes to their positions in BPOP. Virginia Retirement Systems ET AL raised its stake in shares of Popular by 0.7% in the 4th 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. increased its position in Popular by 2.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 9,726 shares of the bank’s stock worth $571,000 after buying an additional 274 shares during the period. Guggenheim Capital LLC increased its position in Popular by 2.7% in the 4th quarter. Guggenheim Capital LLC now owns 11,175 shares of the bank’s stock worth $656,000 after buying an additional 299 shares during the period. Toronto Dominion Bank increased its position in Popular by 27.9% in the 4th quarter. Toronto Dominion Bank now owns 1,525 shares of the bank’s stock worth $90,000 after buying an additional 333 shares during the period. Finally, Rock Point Advisors LLC increased its position in Popular by 0.5% in the 4th quarter. Rock Point Advisors LLC now owns 73,615 shares of the bank’s stock worth $4,325,000 after buying an additional 365 shares during the period. 93.57% of the stock is owned by institutional investors.
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.
See Also: VIX – Volatility Index
Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.