Keefe, Bruyette & Woods Reiterates Outperform Rating for Popular Inc. (BPOP)
Popular Inc. (NASDAQ:BPOP)‘s stock had its “outperform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research report issued on Wednesday.
A number of other equities analysts have also commented on BPOP. Barclays PLC initiated coverage on shares of Popular in a report on Thursday, June 23rd. They issued an “equal weight” rating and a $32.00 price objective on the stock. Zacks Investment Research lowered shares of Popular from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. BTIG Research reiterated a “buy” rating and issued a $41.00 price objective on shares of Popular in a report on Tuesday, July 12th. TheStreet upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $48.00 price objective on shares of Popular in a report on Friday, August 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $37.29.
Shares of Popular (NASDAQ:BPOP) traded down 1.15% during midday trading on Wednesday, hitting $37.94. 264,098 shares of the stock traded hands. The firm has a 50-day moving average price of $38.65 and a 200 day moving average price of $32.71. Popular has a one year low of $22.40 and a one year high of $39.88. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 9.95 and a beta of 1.73.
Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share 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 quarter last year, the business posted $5.79 EPS. Analysts anticipate that Popular will post $3.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Wednesday, September 7th. Popular’s dividend payout ratio is presently 15.79%.
Several large investors have recently made changes to their positions in BPOP. Aperio Group LLC increased its stake in shares of Popular by 127.4% in the first quarter. Aperio Group LLC now owns 100,509 shares of the company’s stock worth $2,876,000 after buying an additional 56,302 shares in the last quarter. Ngam Advisors L.P. increased its stake in shares of Popular by 37.6% in the first quarter. Ngam Advisors L.P. now owns 95,180 shares of the company’s stock worth $2,723,000 after buying an additional 26,007 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Popular by 35.7% in the first quarter. TIAA CREF Investment Management LLC now owns 524,484 shares of the company’s stock worth $15,005,000 after buying an additional 137,899 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Popular by 14.3% in the first quarter. Teachers Advisors Inc. now owns 564,697 shares of the company’s stock worth $16,156,000 after buying an additional 70,610 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Popular by 188.0% in the first quarter. BlackRock Inc. now owns 16,417 shares of the company’s stock worth $469,000 after buying an additional 10,716 shares in the last quarter. 84.10% of the stock is 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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