Popular Inc. (NASDAQ:BPOP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “Popular, Inc. is a diversified, publicly owned bank holding company. The corporation’s principal subsidiary, Banco Popular de Puerto Rico, has one of the largest retail franchise in Puerto Rico, operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands, the British Virgin Islands, and New York. “
Other equities research analysts also recently issued research reports about the stock. BTIG Research reaffirmed a “buy” rating and set a $41.00 price target on shares of Popular in a research note on Tuesday, July 12th. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. Barclays PLC upped their price target on shares of Popular from $32.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Popular in a research note on Wednesday, October 12th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $48.00 price target on shares of Popular in a research note on Friday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.29.
Shares of Popular (NASDAQ:BPOP) opened at 37.38 on Thursday. Popular has a 52-week low of $22.40 and a 52-week high of $39.88. The stock has a 50 day moving average of $38.60 and a 200 day moving average of $32.85. The stock has a market capitalization of $3.88 billion, a PE ratio of 9.80 and a beta of 1.73.
Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ 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 in the prior year, the business earned $5.79 EPS. Analysts forecast that Popular will post $3.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 7th. Popular’s payout ratio is presently 15.79%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in Popular during the third quarter worth approximately $459,000. Algert Global LLC boosted its position in Popular by 34.3% in the third quarter. Algert Global LLC now owns 17,860 shares of the company’s stock worth $683,000 after buying an additional 4,557 shares during the last quarter. Calvert Investment Management Inc. boosted 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. Schwab Charles Investment Management Inc. boosted its position in Popular by 49.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 486,836 shares of the company’s stock worth $14,265,000 after buying an additional 160,059 shares during the last quarter. Finally, Pine River Capital Management L.P. bought a new position in Popular during the second quarter worth approximately $941,000. Hedge funds and other institutional investors own 84.10% of the company’s stock.
Popular Company Profile
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.