Popular, Inc. (NASDAQ:BPOP - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $93.72 and last traded at $95.42, with a volume of 490273 shares traded. The stock had previously closed at $96.80.
Analyst Upgrades and Downgrades
BPOP has been the topic of several research analyst reports. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. StockNews.com cut shares of Popular from a "buy" rating to a "hold" rating in a research report on Friday. Barclays reissued an "overweight" rating and issued a $125.00 price objective (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Royal Bank of Canada upped their target price on Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $111.14.
Read Our Latest Research Report on BPOP
Popular Stock Up 3.0 %
The firm has a market cap of $6.91 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The business's 50 day moving average is $90.59 and its 200-day moving average is $95.14.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, topping the consensus estimate of $2.26 by $0.30. The business had revenue of $755.46 million for the quarter, compared to analysts' expectations of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. As a group, equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 2.81%. Popular's payout ratio is 28.90%.
Insider Buying and Selling
In other news, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.09% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in Popular by 8.5% during the 3rd quarter. Barclays PLC now owns 60,099 shares of the bank's stock valued at $6,024,000 after purchasing an additional 4,699 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Popular in the 3rd quarter worth approximately $81,000. Tidal Investments LLC acquired a new stake in Popular in the 3rd quarter valued at approximately $1,635,000. Franklin Resources Inc. raised its stake in Popular by 304.3% during the 3rd quarter. Franklin Resources Inc. now owns 99,861 shares of the bank's stock valued at $10,042,000 after acquiring an additional 75,164 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock worth $105,769,000 after purchasing an additional 71,782 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.
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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