Zacks Investment Research lowered shares of Popular (NASDAQ:BPOP) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday.
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. “
Several other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Popular from a hold rating to a buy rating in a report on Friday, December 1st. Keefe, Bruyette & Woods upgraded shares of Popular from a market perform rating to an outperform rating in a report on Tuesday, November 28th. BTIG Research reiterated a buy rating on shares of Popular in a report on Tuesday, January 23rd. Sandler O’Neill set a $48.00 price target on shares of Popular and gave the company a buy rating in a report on Thursday, February 15th. Finally, Barclays lifted their price target on shares of Popular from $45.00 to $49.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Popular has an average rating of Buy and a consensus target price of $48.31.
Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.65 EPS for the quarter, topping the consensus estimate of $0.43 by $0.22. Popular had a net margin of 4.89% and a return on equity of 5.29%. The company had revenue of $473.35 million for the quarter. analysts predict that Popular will post 3.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, March 15th. Popular’s dividend payout ratio (DPR) is presently 99.01%.
Several hedge funds have recently made changes to their positions in BPOP. The Manufacturers Life Insurance Company boosted its holdings in shares of Popular by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after buying an additional 200 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Popular during the 3rd quarter valued at $9,497,000. Prudential Financial Inc. boosted its holdings in shares of Popular by 63.9% during the 3rd quarter. Prudential Financial Inc. now owns 903,755 shares of the bank’s stock valued at $32,480,000 after buying an additional 352,420 shares in the last quarter. Boston Partners boosted its holdings in shares of Popular by 11.2% during the 3rd quarter. Boston Partners now owns 334,913 shares of the bank’s stock valued at $12,036,000 after buying an additional 33,710 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Popular by 462.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,459 shares of the bank’s stock valued at $340,000 after buying an additional 7,776 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.
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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.
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