Morgan Stanley Raises Popular (BPOP) Price Target to $41.00
Several other equities research analysts also recently weighed in on the company. Barclays decreased their target price on Popular from $47.00 to $40.00 and set an equal weight rating for the company in a research report on Wednesday, October 11th. Zacks Investment Research downgraded Popular from a buy rating to a hold rating in a research report on Thursday, September 14th. Compass Point raised Popular from a neutral rating to a buy rating in a research report on Friday, November 3rd. BTIG Research raised Popular from a neutral rating to a buy rating in a research report on Tuesday, October 31st. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $50.50 target price on shares of Popular in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $46.42.
Shares of Popular (NASDAQ:BPOP) opened at $35.01 on Wednesday. Popular has a 1 year low of $32.04 and a 1 year high of $45.96. The firm has a market capitalization of $3,571.93, a PE ratio of 12.16 and a beta of 1.31.
Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). Popular had a return on equity of 5.70% and a net margin of 9.98%. The company had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $513.85 million. During the same period in the previous year, the company earned $0.44 EPS. Popular’s quarterly revenue was up 11.3% on a year-over-year basis. analysts predict that Popular will post 2.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Monday, December 4th. Popular’s dividend payout ratio is currently 50.76%.
Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Popular by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock valued at $63,098,000 after purchasing an additional 53,446 shares during the last quarter. BlackRock Inc. boosted its holdings in Popular by 12.7% in the second quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock valued at $209,937,000 after purchasing an additional 567,642 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Popular by 36.1% during the 2nd quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock worth $22,996,000 after buying an additional 146,370 shares during the last quarter. Royce & Associates LP lifted its holdings in Popular by 35.1% during the 2nd quarter. Royce & Associates LP now owns 223,300 shares of the bank’s stock worth $9,314,000 after buying an additional 58,000 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in Popular by 58.5% during the 2nd quarter. Royal Bank of Canada now owns 90,040 shares of the bank’s stock worth $3,756,000 after buying an additional 33,229 shares during the last quarter. 88.96% of the stock is owned by hedge funds and other institutional investors.
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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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