Morgan Stanley Increases Popular (BPOP) Price Target to $42.00
Several other research firms also recently issued reports on BPOP. Barclays lifted their price target on shares of Popular from $44.00 to $45.00 and gave the company an overweight rating in a research report on Wednesday, November 1st. ValuEngine raised shares of Popular from a hold rating to a buy rating in a research report on Friday, December 1st. Citigroup lifted their price target on shares of Popular from $47.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Piper Jaffray Companies reissued a buy rating and issued a $50.50 price target on shares of Popular in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of Popular from a strong sell rating to a hold rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Popular currently has an average rating of Buy and an average price target of $47.07.
Shares of Popular (NASDAQ BPOP) opened at $40.40 on Friday. Popular has a 52-week low of $32.04 and a 52-week high of $45.96. The stock has a market cap of $4,120.00, a price-to-earnings ratio of 40.00 and a beta of 1.31.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Monday, December 4th. Popular’s dividend payout ratio is 99.01%.
A number of institutional investors and hedge funds have recently bought and sold shares of BPOP. Ameriprise Financial Inc. boosted its holdings in Popular by 13.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 317,244 shares of the bank’s stock worth $13,235,000 after acquiring an additional 37,117 shares during the last quarter. BlackRock Inc. boosted its holdings in Popular by 12.7% during the 2nd quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock worth $209,937,000 after acquiring an additional 567,642 shares during the last quarter. Amalgamated Bank boosted its holdings in Popular by 23.9% during the 2nd quarter. Amalgamated Bank now owns 18,224 shares of the bank’s stock worth $760,000 after acquiring an additional 3,511 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in Popular during the 2nd quarter worth $250,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in Popular by 7.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 100,769 shares of the bank’s stock worth $4,203,000 after acquiring an additional 6,678 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.
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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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