Trade Report: The Keefe, Bruyette & Woods Reiterates Outperform Rating for Popular Inc. (BPOP)

The Keefe, Bruyette & Woods Reiterates Outperform Rating for Popular Inc. (BPOP)

Popular Inc. (NASDAQ:BPOP)‘s stock had its “outperform” rating reissued by Keefe, Bruyette & Woods in a note issued to investors on Wednesday.

Several other research analysts have also commented on BPOP. Barclays PLC started coverage on shares of Popular in a research note on Thursday, June 23rd. They set an “equal weight” rating and a $32.00 price target on the stock. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. BTIG Research reaffirmed a “buy” rating and set a $41.00 price objective on shares of Popular in a report on Tuesday, July 12th. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Popular in a report on Friday, August 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.29.

Shares of Popular (NASDAQ:BPOP) traded down 1.15% during midday trading on Wednesday, hitting $37.94. 264,098 shares of the company were exchanged. Popular has a one year low of $22.40 and a one year high of $39.88. The stock’s 50-day moving average is $38.65 and its 200-day moving average is $32.71. The stock has a market cap of $3.94 billion, a PE ratio of 9.95 and a beta of 1.73.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.04. Popular had a net margin of 18.69% and a return on equity of 7.06%. During the same quarter last year, the business posted $5.79 EPS. Equities research analysts anticipate that Popular will post $3.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, September 7th. Popular’s payout ratio is 15.79%.

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Popular by 94.2% in the second quarter. Sei Investments Co. now owns 5,871 shares of the company’s stock worth $173,000 after buying an additional 2,848 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Popular during the second quarter worth approximately $195,000. Prudential Financial Inc. acquired a new position in Popular during the second quarter worth approximately $222,000. Zweig DiMenna Associates LLC acquired a new position in Popular during the second quarter worth approximately $223,000. Finally, Calvert Investment Management Inc. increased its position in Popular by 11.5% in the second quarter. Calvert Investment Management Inc. now owns 8,339 shares of the company’s stock worth $244,000 after buying an additional 859 shares during the last quarter. 84.10% of the stock is owned by institutional investors.

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