Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $126.27 and last traded at $124.05, with a volume of 715530 shares changing hands. The stock had previously closed at $124.79.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Barclays raised their price target on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price target on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Hovde Group restated an "outperform" rating on shares of Popular in a research report on Friday. UBS Group reiterated a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Finally, Citigroup lifted their price objective on Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.88.
Read Our Latest Research Report on Popular
Popular Stock Performance
The company has a market cap of $8.43 billion, a PE ratio of 12.13, a PEG ratio of 0.65 and a beta of 0.68. The firm has a fifty day simple moving average of $115.88 and a 200 day simple moving average of $103.34.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating the consensus estimate of $2.60 by $0.49. The company had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same quarter in the previous year, the business earned $2.46 EPS. As a group, equities analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.75 dividend. This is a positive change from Popular's previous quarterly dividend of $0.70. The ex-dividend date is Friday, September 12th. This represents a $3.00 annualized dividend and a yield of 2.4%. Popular's dividend payout ratio (DPR) is presently 27.13%.
Institutional Trading of Popular
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its stake in shares of Popular by 4.2% in 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 in the last quarter. Nebula Research & Development LLC grew its holdings in shares of Popular by 1.3% during the 2nd quarter. Nebula Research & Development LLC now owns 9,579 shares of the bank's stock worth $1,056,000 after purchasing an additional 119 shares during the period. Greenwich Wealth Management LLC grew its holdings in shares of Popular by 0.5% during the 2nd quarter. Greenwich Wealth Management LLC now owns 28,267 shares of the bank's stock worth $3,115,000 after purchasing an additional 130 shares during the period. Forum Financial Management LP grew its holdings in shares of Popular by 6.2% during the 2nd quarter. Forum Financial Management LP now owns 2,671 shares of the bank's stock worth $294,000 after purchasing an additional 157 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Popular by 3.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,376 shares of the bank's stock worth $592,000 after purchasing an additional 158 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.
Popular Company Profile
(
Get Free Report)
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.
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