Popular (NASDAQ:BPOP) had its price target boosted by Morgan Stanley from $40.00 to $41.00 in a research report report published on Wednesday. They currently have an equal weight rating on the bank’s stock.

A number of other research firms also recently weighed in on BPOP. Zacks Investment Research upgraded Popular from a hold rating to a buy rating and set a $45.00 target price for the company in a research report on Friday, September 15th. ValuEngine downgraded Popular from a buy rating to a hold rating in a research report on Wednesday, September 27th. Barclays boosted their target price on Popular from $44.00 to $45.00 and gave the stock an overweight rating in a research report on Wednesday, November 1st. Piper Jaffray Companies restated a buy rating and issued a $50.50 target price on shares of Popular in a research report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods upgraded Popular from a market perform rating to an outperform rating in a research report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Popular currently has a consensus rating of Hold and a consensus target price of $46.42.

Popular (NASDAQ BPOP) traded up $0.28 during trading hours on Wednesday, reaching $35.01. The company had a trading volume of 5,696,266 shares, compared to its average volume of 876,410. The company has a market cap of $3,543.38, a P/E ratio of 12.06 and a beta of 1.31. Popular has a one year low of $32.04 and a one year high of $45.96.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). The firm had revenue of $478.50 million during the quarter, compared to the consensus estimate of $513.85 million. Popular had a return on equity of 5.70% and a net margin of 9.98%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. sell-side analysts forecast that Popular will post 2.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $1.00 annualized dividend and a yield of 2.86%. Popular’s payout ratio is currently 50.76%.

A number of hedge funds have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC lifted its position in Popular by 5.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 6,261,030 shares of the bank’s stock valued at $261,148,000 after purchasing an additional 343,637 shares during the last quarter. BlackRock Inc. lifted its position in Popular by 12.7% in the second quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock valued at $209,937,000 after purchasing an additional 567,642 shares during the last quarter. Investec Asset Management LTD lifted its position in Popular by 270.1% in the third quarter. Investec Asset Management LTD now owns 3,640,138 shares of the bank’s stock valued at $130,827,000 after purchasing an additional 2,656,548 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in Popular by 0.6% in the third quarter. Frontier Capital Management Co. LLC now owns 3,449,027 shares of the bank’s stock valued at $123,958,000 after purchasing an additional 21,271 shares during the last quarter. Finally, State Street Corp lifted its position in Popular by 3.2% in the second quarter. State Street Corp now owns 3,284,653 shares of the bank’s stock valued at $137,001,000 after purchasing an additional 100,572 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

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About Popular

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.

Analyst Recommendations for Popular (NASDAQ:BPOP)

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