Popular Inc. (BPOP) Bonds Trading 1.6% Lower
An issue of Popular Inc. (NASDAQ:BPOP) debt fell 1.6% against its face value during trading on Thursday. The high-yield debt issue has a 7% coupon and is set to mature on July 1, 2019. The bonds in the issue are now trading at $103.00 and were trading at $103.88 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
A number of brokerages have issued reports on BPOP. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $48.00 price target on shares of Popular in a research note on Friday, August 26th. TheStreet upgraded Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. Zacks Investment Research upgraded Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Barclays PLC increased their price target on Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Finally, BTIG Research reiterated a “buy” rating and issued a $41.00 price target on shares of Popular in a research note on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $37.29.
Popular Inc. (NASDAQ:BPOP) opened at 39.21 on Friday. The stock’s 50 day moving average price is $38.57 and its 200-day moving average price is $32.46. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 10.28 and a beta of 1.73. Popular Inc. has a 12 month low of $22.40 and a 12 month high of $39.88.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ 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 quarter last year, the firm posted $5.79 EPS. Equities analysts expect that Popular Inc. will post $3.42 EPS 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. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.53%. Popular’s dividend payout ratio (DPR) is presently 15.79%.
Large investors have recently added to or reduced their stakes in the company. Utah Retirement Systems raised its stake in Popular by 1.1% in the second quarter. Utah Retirement Systems now owns 18,609 shares of the company’s stock worth $546,000 after buying an additional 200 shares during the period. Amalgamated Bank raised its stake in Popular by 2.8% in the second quarter. Amalgamated Bank now owns 12,378 shares of the company’s stock worth $455,000 after buying an additional 338 shares during the period. Paloma Partners Management Co raised its stake in Popular by 7.5% in the second quarter. Paloma Partners Management Co now owns 10,604 shares of the company’s stock worth $311,000 after buying an additional 744 shares during the period. Calvert Investment Management Inc. raised its stake in 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 during the period. Finally, Swiss National Bank raised its stake in Popular by 0.5% in the second quarter. Swiss National Bank now owns 174,900 shares of the company’s stock worth $5,125,000 after buying an additional 900 shares during the period. Institutional investors own 84.10% of the company’s stock.
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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