Popular Inc. (BPOP) Downgraded by Zacks Investment Research
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. “
BPOP has been the subject of a number of other research reports. Barclays PLC raised their price target on shares of Popular from $32.00 to $36.00 and gave the stock an equal weight rating in a research note on Thursday, July 28th. Piper Jaffray Cos. reiterated an overweight rating and issued a $48.00 target price on shares of Popular in a research note on Friday, August 26th. TheStreet upgraded shares of Popular from a hold rating to a buy rating in a research note on Wednesday, August 17th. BTIG Research reiterated a buy rating and issued a $41.00 target price on shares of Popular in a research note on Tuesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating on shares of Popular in a research note on Wednesday, October 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $37.29.
Popular (NASDAQ:BPOP) opened at 37.38 on Thursday. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 9.80 and a beta of 1.73. Popular has a 52 week low of $22.40 and a 52 week high of $39.88. The firm’s 50-day moving average price is $38.58 and its 200-day moving average price is $32.97.
Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the business earned $5.79 earnings per share. On average, equities analysts expect that Popular will post $3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, September 7th. Popular’s dividend payout ratio is presently 15.79%.
Institutional investors have recently made changes to their positions in the company. 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 worth $173,000 after buying an additional 2,848 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Popular during the second quarter worth $195,000. Prudential Financial Inc. purchased a new position in shares of Popular during the second quarter worth $222,000. Zweig DiMenna Associates LLC purchased a new position in shares of Popular during the second quarter worth $223,000. Finally, Calvert Investment Management Inc. boosted its position in shares of Popular by 11.5% in the second quarter. Calvert Investment Management Inc. now owns 8,339 shares of the company’s stock worth $244,000 after buying an additional 859 shares in the last quarter. 84.10% of the stock is currently owned by institutional investors.
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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