BTIG Research lowered shares of Popular Inc. (NASDAQ:BPOP) from a buy rating to a neutral rating in a report published on Tuesday morning. The analysts noted that the move was a valuation call.
A number of other equities analysts have also weighed in on BPOP. Zacks Investment Research raised Popular from a sell rating to a hold rating in a research note on Wednesday, August 3rd. Barclays PLC boosted their price objective on Popular from $32.00 to $36.00 and gave the stock an equal weight rating in a research note on Thursday, July 28th. Compass Point lowered Popular from a buy rating to a neutral rating in a research note on Friday, November 18th. Piper Jaffray Cos. reissued an overweight rating and set a $48.00 price objective on shares of Popular in a research note on Friday, August 26th. Finally, Keefe, Bruyette & Woods reissued an outperform rating on shares of Popular in a research note on Wednesday, October 12th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $37.83.
Popular (NASDAQ:BPOP) opened at 41.44 on Tuesday. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 12.06 and a beta of 1.63. Popular has a 52 week low of $22.40 and a 52 week high of $42.83. The stock’s 50 day moving average price is $38.65 and its 200 day moving average price is $34.89.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.44. Popular had a return on equity of 6.99% and a net margin of 17.25%. During the same period last year, the business posted $0.82 EPS. On average, analysts forecast that Popular will post $3.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Friday, December 9th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.45%. Popular’s dividend payout ratio is presently 17.54%.
In related news, CEO Richard L. Carrion sold 16,858 shares of the business’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $37.44, for a total value of $631,163.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Eli Sepulveda sold 3,762 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $36.97, for a total value of $139,081.14. The disclosure for this sale can be found here. 1.28% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new stake in Popular during the third quarter valued at about $105,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Popular by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,464 shares of the company’s stock valued at $132,000 after buying an additional 337 shares in the last quarter. Riverhead Capital Management LLC purchased a new stake in Popular during the third quarter valued at about $141,000. Sei Investments Co. increased its stake in Popular by 94.2% in the second quarter. Sei Investments Co. now owns 5,871 shares of the company’s stock valued at $173,000 after buying an additional 2,848 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Popular during the second quarter valued at about $195,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.