BidaskClub Upgrades Popular (BPOP) to Hold

BidaskClub upgraded shares of Popular (NASDAQ:BPOP) from a sell rating to a hold rating in a research report released on Thursday morning.

Several other equities analysts also recently issued reports on the stock. Barclays decreased their price objective on shares of Popular from $47.00 to $40.00 and set an equal weight rating on the stock in a report on Wednesday, October 11th. Compass Point raised shares of Popular from a neutral rating to a buy rating in a report on Friday, November 3rd. Zacks Investment Research downgraded shares of Popular from a buy rating to a hold rating in a report on Thursday, September 14th. Keefe, Bruyette & Woods raised shares of Popular from a market perform rating to an outperform rating in a report on Tuesday, November 28th. Finally, BTIG Research raised shares of Popular from a neutral rating to a buy rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $45.93.

Popular (NASDAQ:BPOP) traded up $0.59 on Thursday, reaching $38.63. 725,600 shares of the company’s stock traded hands, compared to its average volume of 804,000. The stock has a market capitalization of $3,941.28, a P/E ratio of 19.61 and a beta of 1.31. Popular has a fifty-two week low of $32.04 and a fifty-two week high of $45.96.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, October 31st. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). The company had revenue of $478.50 million for the quarter, compared to analysts’ expectations of $513.85 million. Popular had a net margin of 9.98% and a return on equity of 5.70%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. analysts forecast that Popular will post 2.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Monday, December 4th. Popular’s dividend payout ratio is currently 50.76%.

Several large investors have recently bought and sold shares of the company. M&T Bank Corp lifted its stake in shares of Popular by 2.8% in the second quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock worth $241,000 after buying an additional 159 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Popular by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock worth $124,000 after buying an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Popular by 12.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock worth $162,000 after buying an additional 423 shares in the last quarter. Suntrust Banks Inc. lifted its stake in shares of Popular by 2.6% in the second quarter. Suntrust Banks Inc. now owns 17,413 shares of the bank’s stock worth $726,000 after buying an additional 448 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Popular by 3.9% in the third quarter. Stifel Financial Corp now owns 54,495 shares of the bank’s stock worth $1,967,000 after buying an additional 2,030 shares in the last quarter. 88.94% of the stock is currently owned by hedge funds and other institutional investors.

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About Popular

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.

Analyst Recommendations for Popular (NASDAQ:BPOP)

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