Popular, Inc. (BPOP) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of Popular, Inc. (NASDAQ:BPOP) from a hold rating to a buy rating in a report published on Tuesday.
BPOP has been the subject of several other research reports. Zacks Investment Research raised shares of Popular from a hold rating to a buy rating and set a $45.00 price target for the company in a research note on Friday, September 15th. Royal Bank Of Canada reissued a buy rating and issued a $51.00 price target on shares of Popular in a research note on Thursday, June 29th. Keefe, Bruyette & Woods set a $46.00 price target on shares of Popular and gave the company a hold rating in a research note on Monday, June 5th. Piper Jaffray Companies reissued a buy rating and issued a $53.00 price target on shares of Popular in a research note on Friday, July 28th. Finally, BidaskClub raised shares of Popular from a strong sell rating to a sell rating in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $47.50.
Popular (NASDAQ BPOP) opened at 35.36 on Tuesday. Popular has a one year low of $34.45 and a one year high of $45.96. The company has a market cap of $3.61 billion, a P/E ratio of 15.97 and a beta of 1.25. The company has a 50 day moving average of $38.70 and a 200-day moving average of $39.84.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The business had revenue of $491.27 million during the quarter, compared to analysts’ expectations of $500.66 million. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities analysts expect that Popular will post $3.79 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.83%. Popular’s dividend payout ratio is currently 45.05%.
Several hedge funds have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Popular by 5.8% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,261,030 shares of the bank’s stock worth $261,148,000 after acquiring an additional 343,637 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Popular by 12.7% in the 2nd quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock worth $209,937,000 after acquiring an additional 567,642 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Popular by 4.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,197,066 shares of the bank’s stock worth $175,060,000 after acquiring an additional 175,571 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Popular by 37.9% in the 1st quarter. AQR Capital Management LLC now owns 3,334,844 shares of the bank’s stock worth $135,829,000 after acquiring an additional 916,126 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Popular by 3.2% in the 2nd quarter. State Street Corp now owns 3,284,653 shares of the bank’s stock worth $137,001,000 after acquiring an additional 100,572 shares during the last quarter. Hedge funds and other institutional investors own 85.84% 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.
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