Popular Inc (NASDAQ:BPOP) has been assigned an average rating of “Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $50.80.
Several equities analysts have weighed in on BPOP shares. Piper Sandler boosted their target price on shares of Popular from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Citigroup boosted their target price on shares of Popular from $49.00 to $51.00 and gave the company a “buy” rating in a report on Monday, July 27th. Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Wednesday, July 1st. BidaskClub raised shares of Popular from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, TheStreet downgraded shares of Popular from a “b-” rating to a “c” rating in a research note on Monday, August 3rd.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ninety One SA PTY Ltd grew its holdings in Popular by 0.7% during the 2nd quarter. Ninety One SA PTY Ltd now owns 58,649 shares of the bank’s stock worth $2,179,000 after acquiring an additional 403 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in Popular during the 2nd quarter worth approximately $633,000. Copper Rock Capital Partners LLC grew its holdings in Popular by 1,794.6% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 3,483,216 shares of the bank’s stock worth $123,019,000 after acquiring an additional 3,299,366 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Popular by 9.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 934,820 shares of the bank’s stock worth $34,748,000 after acquiring an additional 79,186 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Popular during the 2nd quarter worth approximately $2,458,000. 94.70% of the stock is currently owned by hedge funds and other institutional investors.
Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.57. The company had revenue of $562.94 million for the quarter, compared to analyst estimates of $572.30 million. Popular had a net margin of 18.03% and a return on equity of 8.46%. During the same period in the previous year, the business posted $1.76 EPS. Analysts expect that Popular will post 4.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Friday, September 4th. Popular’s payout ratio is currently 23.26%.
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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