Barclays PLC Cuts Popular, Inc. (BPOP) Price Target to $40.00
Popular, Inc. (NASDAQ:BPOP) had its target price lowered by Barclays PLC from $47.00 to $40.00 in a report published on Wednesday morning. The brokerage currently has an equal weight rating on the bank’s stock.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Popular from a buy rating to a hold rating in a report on Monday, July 3rd. BidaskClub raised shares of Popular from a sell rating to a hold rating in a report on Friday, June 30th. Royal Bank Of Canada reissued a buy rating and set a $51.00 price objective on shares of Popular in a report on Thursday, June 29th. Piper Jaffray Companies reissued a buy rating and set a $53.00 price objective on shares of Popular in a report on Friday, July 28th. Finally, Morgan Stanley reissued an equal weight rating and set a $43.00 price objective (up from $42.00) on shares of Popular in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Popular has a consensus rating of Hold and an average target price of $46.33.
Popular (BPOP) traded down 0.82% during trading on Wednesday, hitting $32.65. The stock had a trading volume of 1,197,968 shares. Popular has a 12 month low of $32.37 and a 12 month high of $45.96. The firm has a 50 day moving average of $37.86 and a 200-day moving average of $39.66. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 14.75 and a beta of 1.25.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. Popular had a net margin of 11.57% and a return on equity of 7.11%. During the same period in the previous year, the company earned $0.85 earnings per share. Equities analysts predict that Popular will post $3.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.06%. Popular’s dividend payout ratio is presently 45.05%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in Popular by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after purchasing an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Popular by 12.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock valued at $162,000 after purchasing an additional 423 shares during the period. ETRADE Capital Management LLC acquired a new position in Popular during the second quarter valued at $204,000. Cornerstone Capital Management Holdings LLC. lifted its position in Popular by 229.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock valued at $233,000 after purchasing an additional 3,900 shares during the period. Finally, M&T Bank Corp lifted its position in Popular by 2.8% during the second quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock valued at $241,000 after purchasing an additional 159 shares during the period. Institutional investors own 85.84% of the company’s stock.
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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