Popular, Inc. (NASDAQ:BPOP - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $93.72 and last traded at $95.42, with a volume of 490273 shares changing hands. The stock had previously closed at $96.80.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on BPOP. Barclays reissued an "overweight" rating and set a $125.00 price target (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Hovde Group lowered their target price on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company upgraded shares of Popular from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods raised their price target on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, StockNews.com downgraded shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.14.
Check Out Our Latest Stock Report on BPOP
Popular Trading Down 0.1 %
The stock has a 50-day simple moving average of $90.57 and a 200-day simple moving average of $95.08. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60.
Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The company had revenue of $755.46 million for the quarter, compared to analysts' expectations of $760.45 million. During the same period last year, the business posted $1.43 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.
Popular Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.82%. Popular's dividend payout ratio (DPR) is 28.90%.
Insider Buying and Selling
In related news, EVP Gilberto Monzon sold 9,600 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.09% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Popular
A number of institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management lifted its stake in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after buying an additional 118 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Popular in the third quarter worth about $81,000. Versant Capital Management Inc lifted its position in shares of Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after buying an additional 702 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Popular in the 4th quarter valued at $166,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.
About Popular
(
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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