Popular Inc. (BPOP) Plans $0.15 Quarterly Dividend
Popular Inc. (NASDAQ:BPOP) declared a quarterly dividend on Wednesday, November 23rd. Shareholders of record on Friday, December 9th will be given a dividend of 0.15 per share on Monday, January 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Wednesday, December 7th.
Popular (NASDAQ:BPOP) traded up 0.78% during trading on Wednesday, reaching $41.44. 918,368 shares of the company’s stock were exchanged. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 12.06 and a beta of 1.63. Popular has a 52-week low of $22.40 and a 52-week high of $42.83. The stock’s 50-day moving average price is $38.55 and its 200-day moving average price is $34.84.
Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, October 25th. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by $0.44. Popular had a return on equity of 6.99% and a net margin of 17.25%. During the same period last year, the business earned $0.82 earnings per share. Equities analysts expect that Popular will post $3.03 earnings per share for the current year.
In other Popular news, CEO Richard L. Carrion sold 16,858 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $37.44, for a total value of $631,163.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider O. Rivera Nestor sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $37.97, for a total value of $379,700.00. Following the completion of the sale, the insider now owns 31,400 shares in the company, valued at $1,192,258. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BPOP. Pacer Advisors Inc. bought a new stake in shares of Popular during the second quarter worth $255,000. Allianz Asset Management AG boosted its stake in shares of Popular by 31.3% in the second quarter. Allianz Asset Management AG now owns 208,653 shares of the company’s stock worth $6,113,000 after buying an additional 49,735 shares during the period. Algert Global LLC boosted its stake in shares of Popular by 18.9% in the second quarter. Algert Global LLC now owns 13,303 shares of the company’s stock worth $390,000 after buying an additional 2,113 shares during the period. Rhumbline Advisers boosted its stake in shares of Popular by 12.5% in the second quarter. Rhumbline Advisers now owns 81,253 shares of the company’s stock worth $2,381,000 after buying an additional 9,000 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Popular by 49.3% in the second quarter. TIAA CREF Investment Management LLC now owns 783,189 shares of the company’s stock worth $22,947,000 after buying an additional 258,705 shares during the period. Hedge funds and other institutional investors own 84.72% of the company’s stock.
Several equities research analysts recently weighed in on BPOP shares. Barclays PLC boosted their target price on Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Zacks Investment Research upgraded Popular from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. TheStreet upgraded Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Piper Jaffray Cos. restated an “overweight” rating and issued a $48.00 target price on shares of Popular in a report on Friday, August 26th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Popular in a report on Wednesday, October 12th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $37.83.
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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