Citigroup Begins Coverage on Popular (BPOP)
Citigroup began coverage on shares of Popular (NASDAQ:BPOP) in a research report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $47.00 price objective on the bank’s stock.
BPOP has been the topic of a number of other research reports. Compass Point raised Popular from a neutral rating to a buy rating in a report on Friday, November 3rd. Barclays raised Popular from an equal weight rating to an overweight rating and set a $40.00 price objective on the stock in a report on Thursday, October 26th. Zacks Investment Research lowered Popular from a buy rating to a sell rating in a report on Tuesday, October 3rd. Piper Jaffray Companies restated a buy rating and set a $50.50 target price on shares of Popular in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded Popular from a hold rating to a buy rating in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $46.50.
Popular (NASDAQ:BPOP) opened at $36.69 on Thursday. The company has a market capitalization of $3,745.39, a PE ratio of 18.62 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 issued its quarterly earnings data on Tuesday, October 31st. The bank reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). The company had revenue of $478.50 million for the quarter, compared to analyst estimates of $513.85 million. Popular had a net margin of 9.98% and a return on equity of 5.70%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. equities research analysts anticipate that Popular will post 2.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 4th. This represents a $1.00 annualized dividend and a yield of 2.73%. Popular’s payout ratio is 50.76%.
Large investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC lifted its position 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 period. BlackRock Inc. lifted its position 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 period. Investec Asset Management LTD lifted its position in shares of Popular by 270.1% in the 3rd quarter. Investec Asset Management LTD now owns 3,640,138 shares of the bank’s stock worth $130,827,000 after acquiring an additional 2,656,548 shares during the period. Frontier Capital Management Co. LLC lifted its position in shares of Popular by 0.6% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,449,027 shares of the bank’s stock worth $123,958,000 after acquiring an additional 21,271 shares during the period. Finally, State Street Corp lifted its position 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 period. Hedge funds and other institutional investors own 88.94% of the company’s stock.
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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