Popular (NASDAQ:BPOP) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Popular (NASDAQ:BPOP) from a hold rating to a sell rating in a report issued on Tuesday morning.

Several other brokerages have also issued reports on BPOP. UBS Group upped their target price on Popular from $84.00 to $91.00 and gave the stock a neutral rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods raised their target price on shares of Popular from $95.00 to $103.00 and gave the stock an outperform rating in a report on Friday, January 26th. Barclays assumed coverage on shares of Popular in a report on Friday, March 8th. They set an overweight rating and a $99.00 price target for the company. Citigroup raised their price target on shares of Popular from $103.00 to $107.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Finally, Royal Bank of Canada upped their price objective on shares of Popular from $80.00 to $90.00 and gave the company an outperform rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Popular presently has an average rating of Moderate Buy and a consensus target price of $89.71.

Popular Trading Up 1.0 %

BPOP stock opened at $88.09 on Tuesday. Popular has a 12 month low of $52.32 and a 12 month high of $89.70. The firm has a market capitalization of $6.36 billion, a P/E ratio of 11.70 and a beta of 0.81. The firm has a 50 day moving average of $84.53 and a 200-day moving average of $75.83.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.89. Popular had a return on equity of 12.63% and a net margin of 13.86%. The business had revenue of $702.92 million for the quarter, compared to analyst estimates of $699.76 million. Sell-side analysts predict that Popular will post 8.49 EPS for the current year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Thursday, March 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.82%. Popular’s dividend payout ratio (DPR) is currently 32.93%.

Insider Buying and Selling at Popular

In related news, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at approximately $2,260,092.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Several hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC boosted its position in Popular by 5.8% in the first quarter. HighTower Advisors LLC now owns 4,333 shares of the bank’s stock worth $354,000 after purchasing an additional 239 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Popular during the first quarter valued at approximately $129,000. Panagora Asset Management Inc. increased its holdings in Popular by 22.1% during the first quarter. Panagora Asset Management Inc. now owns 3,463 shares of the bank’s stock valued at $283,000 after buying an additional 627 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Popular by 5.9% during the first quarter. Yousif Capital Management LLC now owns 2,856 shares of the bank’s stock valued at $233,000 after buying an additional 160 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Popular by 11.5% during the 1st quarter. Sei Investments Co. now owns 100,352 shares of the bank’s stock worth $8,203,000 after acquiring an additional 10,364 shares during the last quarter. 87.27% of the stock is owned by institutional investors.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.