Zacks Investment Research lowered shares of Popular (NASDAQ:BPOP) from a buy rating to a hold rating in a research report released on Friday, February 16th.
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 analysts have also issued research reports about the company. Citigroup upped their target price on Popular from $47.00 to $50.00 and gave the company a buy rating in a report on Wednesday, January 24th. BTIG Research reaffirmed a buy rating on shares of Popular in a research note on Tuesday, January 23rd. Piper Jaffray Companies reaffirmed a buy rating and set a $50.50 price objective on shares of Popular in a research note on Wednesday, November 1st. Compass Point upgraded Popular from a neutral rating to a buy rating in a research report on Friday, November 3rd. Finally, ValuEngine upgraded Popular from a hold rating to a buy rating in a research report on Friday, December 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $48.31.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.22. The firm had revenue of $473.35 million during the quarter. Popular had a return on equity of 5.29% and a net margin of 4.89%. equities analysts anticipate that Popular will post 3.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Popular’s payout ratio is 99.01%.
Institutional investors and hedge funds have recently modified their holdings of the company. Balyasny Asset Management LLC acquired a new position in Popular during the 2nd quarter valued at approximately $265,000. Royal Bank of Canada boosted its position in Popular by 58.5% during the 2nd quarter. Royal Bank of Canada now owns 90,040 shares of the bank’s stock valued at $3,756,000 after purchasing an additional 33,229 shares during the period. Janus Henderson Group PLC acquired a new position in Popular during the 2nd quarter valued at approximately $3,917,000. Cornerstone Capital Management Holdings LLC. boosted its position in Popular by 229.4% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock valued at $233,000 after purchasing an additional 3,900 shares during the period. Finally, State Street Corp boosted its position in Popular by 3.2% during the 2nd quarter. State Street Corp now owns 3,284,653 shares of the bank’s stock valued at $137,001,000 after purchasing an additional 100,572 shares during the period. 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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