Brokerages Set Popular Inc (NASDAQ:BPOP) Target Price at $45.50
Shares of Popular Inc (NASDAQ:BPOP) have received a consensus rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $45.50.
Several equities analysts recently issued reports on BPOP shares. Zacks Investment Research cut shares of Popular from a “buy” rating to a “sell” rating in a research note on Wednesday, March 11th. ValuEngine upgraded shares of Popular from a “sell” rating to a “hold” rating in a research report on Monday, March 30th. BTIG Research restated a “buy” rating and set a $54.00 price objective on shares of Popular in a research report on Thursday, April 30th. BidaskClub cut shares of Popular from a “hold” rating to a “sell” rating in a research report on Thursday, May 7th. Finally, TheStreet cut shares of Popular from a “b-” rating to a “c” rating in a research report on Friday, March 20th.
Several institutional investors have recently added to or reduced their stakes in BPOP. Norges Bank purchased a new stake in shares of Popular during the fourth quarter worth $80,055,000. FMR LLC grew its holdings in shares of Popular by 31.4% during the fourth quarter. FMR LLC now owns 1,928,076 shares of the bank’s stock worth $113,274,000 after buying an additional 461,268 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Popular by 199.0% during the first quarter. Thrivent Financial for Lutherans now owns 669,668 shares of the bank’s stock worth $23,439,000 after buying an additional 445,731 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Popular by 22.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,377,513 shares of the bank’s stock worth $139,679,000 after buying an additional 430,092 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Popular by 11.0% during the fourth quarter. AQR Capital Management LLC now owns 3,621,545 shares of the bank’s stock worth $212,766,000 after buying an additional 358,666 shares in the last quarter. 93.49% of the stock is owned by institutional investors and hedge funds.
Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, April 30th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($1.00). Popular had a net margin of 18.98% and a return on equity of 9.16%. The firm had revenue of $599.74 million during the quarter, compared to analyst estimates of $604.57 million. During the same quarter in the prior year, the firm earned $1.69 earnings per share. Analysts forecast that Popular will post 3.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Monday, June 1st. Popular’s payout ratio is 23.26%.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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