Brokerages Set Popular, Inc. (NASDAQ:BPOP) Target Price at $111.14

Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $111.14.

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $110.00 to $100.00 in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays reissued an "overweight" rating and issued a $125.00 target price (up previously from $115.00) on shares of Popular in a research report on Thursday, April 24th. Finally, Royal Bank of Canada increased their price target on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th.

Popular Stock Down 0.2 %

Shares of Popular stock traded down $0.18 during trading on Wednesday, hitting $100.31. 365,068 shares of the company were exchanged, compared to its average volume of 495,163. The firm has a 50 day moving average price of $90.67 and a 200 day moving average price of $95.19. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 0.75 and a beta of 0.60. Popular has a fifty-two week low of $78.23 and a fifty-two week high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. Popular had a net margin of 14.15% and a return on equity of 11.89%. The company had revenue of $755.46 million during the quarter, compared to the consensus estimate of $760.45 million. During the same quarter in the prior year, the company posted $1.43 EPS. The company's quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that Popular will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.79%. Popular's payout ratio is currently 28.90%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its position in shares of Popular by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after buying an additional 112 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Popular by 4.2% during the 1st quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank's stock valued at $263,000 after purchasing an additional 116 shares during the period. Picton Mahoney Asset Management raised its stake in shares of Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after buying an additional 118 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Popular by 0.7% in the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock valued at $1,971,000 after buying an additional 143 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Popular by 0.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,660 shares of the bank's stock valued at $5,788,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.