Popular Inc (NASDAQ:BPOP) has been assigned a consensus rating of “Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $59.43.
BPOP has been the subject of a number of research reports. Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday. BidaskClub upgraded Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Finally, BTIG Research upped their price objective on Popular to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP lifted its stake in shares of Popular by 207.8% in the 4th quarter. Two Sigma Investments LP now owns 331,683 shares of the bank’s stock valued at $15,662,000 after acquiring an additional 223,914 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Popular by 108.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,076,845 shares of the bank’s stock valued at $50,847,000 after acquiring an additional 559,566 shares during the last quarter. Cerebellum GP LLC lifted its stake in shares of Popular by 9.5% in the 1st quarter. Cerebellum GP LLC now owns 5,866 shares of the bank’s stock valued at $306,000 after acquiring an additional 511 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Popular by 8.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 12,370 shares of the bank’s stock valued at $563,000 after acquiring an additional 1,003 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Popular by 41.4% in the 1st quarter. State of Alaska Department of Revenue now owns 27,879 shares of the bank’s stock valued at $1,452,000 after acquiring an additional 8,160 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.
Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.24. Popular had a return on equity of 10.58% and a net margin of 24.69%. The business had revenue of $607.39 million during the quarter, compared to analysts’ expectations of $603.70 million. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, research analysts anticipate that Popular will post 6.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Tuesday, May 28th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, May 24th. Popular’s payout ratio is currently 25.16%.
Popular Company Profile
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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