Popular Inc. (NASDAQ:BPOP) Given Consensus Rating of “Buy” by Brokerages
Shares of Popular Inc. (NASDAQ:BPOP) have earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm. Four equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $38.80.
Several equities analysts recently commented on BPOP shares. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. BTIG Research reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Popular in a research report on Tuesday, July 12th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Popular in a research report on Friday, August 26th. Barclays PLC increased their price objective on shares of Popular from $32.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research raised shares of Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd.
Popular (NASDAQ:BPOP) opened at 38.11 on Thursday. Popular has a 12-month low of $22.40 and a 12-month high of $39.88. The stock has a market cap of $3.95 billion, a P/E ratio of 9.99 and a beta of 1.73. The stock has a 50 day moving average of $38.45 and a 200 day moving average of $32.30.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 period last year, the company posted $5.79 earnings per share. On average, equities research analysts anticipate that Popular will post $3.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.60 annualized dividend and a yield of 1.57%. Popular’s dividend payout ratio (DPR) is presently 15.79%.
Several large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Popular by 0.4% in the first quarter. Wellington Management Group LLP now owns 2,086,463 shares of the company’s stock worth $59,694,000 after buying an additional 9,249 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in shares of Popular by 9.4% in the second quarter. I.G. Investment Management LTD. now owns 14,971 shares of the company’s stock worth $439,000 after buying an additional 1,282 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Popular by 0.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 419,137 shares of the company’s stock worth $11,992,000 after buying an additional 1,840 shares during the last quarter. Price Michael F boosted its stake in shares of Popular by 8.8% in the first quarter. Price Michael F now owns 310,000 shares of the company’s stock worth $8,869,000 after buying an additional 25,000 shares during the last quarter. Finally, Babson Capital Management LLC purchased a new stake in shares of Popular during the first quarter worth approximately $1,176,000. 84.10% of the stock is currently owned by institutional investors and hedge funds.
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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