BidaskClub cut shares of Popular (NASDAQ:BPOP) from a buy rating to a hold rating in a research note issued to investors on Friday.
Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Popular from a hold rating to a buy rating and set a $47.00 price target for the company in a research report on Wednesday, February 21st. Keefe, Bruyette & Woods set a $49.00 price target on shares of Popular and gave the company a buy rating in a research report on Thursday, February 15th. Sandler O’Neill set a $48.00 price target on shares of Popular and gave the company a buy rating in a research report on Thursday, February 15th. BTIG Research restated a buy rating and set a $46.00 price target on shares of Popular in a research report on Wednesday, April 18th. Finally, Barclays upped their price target on shares of Popular from $49.00 to $51.00 and gave the company an overweight rating in a research report on Wednesday, April 25th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Popular presently has a consensus rating of Buy and a consensus price target of $50.06.
Shares of Popular opened at $46.43 on Friday, MarketBeat.com reports. Popular has a 52-week low of $32.04 and a 52-week high of $48.17. The firm has a market capitalization of $4.76 billion, a P/E ratio of 17.32 and a beta of 1.07.
Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, April 24th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.13. Popular had a net margin of 4.74% and a return on equity of 5.29%. The company had revenue of $506.54 million during the quarter, compared to analyst estimates of $497.70 million. During the same period in the previous year, the business earned $0.89 earnings per share. analysts predict that Popular will post 4.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Tuesday, May 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, May 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. Popular’s dividend payout ratio is currently 37.31%.
Institutional investors have recently bought and sold shares of the company. Timber Hill LLC purchased a new stake in shares of Popular during the first quarter worth about $223,000. First Republic Investment Management Inc. purchased a new stake in shares of Popular during the first quarter worth about $229,000. Allianz Asset Management GmbH purchased a new stake in shares of Popular during the first quarter worth about $240,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Popular by 49.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,797 shares of the bank’s stock worth $206,000 after purchasing an additional 1,910 shares during the period. Finally, Invictus RG purchased a new stake in shares of Popular during the fourth quarter worth about $228,000. Institutional investors own 89.85% of the company’s stock.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. 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, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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