Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $78.59 and last traded at $80.07, with a volume of 357201 shares trading hands. The stock had previously closed at $84.01.
Analysts Set New Price Targets
BPOP has been the subject of several research reports. Royal Bank of Canada boosted their price target on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. StockNews.com upgraded Popular from a "hold" rating to a "buy" rating in a report on Friday, April 4th. UBS Group began coverage on Popular in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on shares of Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their price target on shares of Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $111.57.
Get Our Latest Stock Report on Popular
Popular Trading Up 6.5 %
The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 0.75 and a beta of 0.62. The firm's 50 day moving average is $95.48 and its two-hundred day moving average is $96.24.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. As a group, equities analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. Popular's dividend payout ratio (DPR) is 32.71%.
Insider Buying and Selling
In other news, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the transaction, the executive vice president now directly owns 32,866 shares in the company, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction 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 transaction, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.23% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in BPOP. Proficio Capital Partners LLC purchased a new stake in shares of Popular in the fourth quarter worth approximately $27,000. Picton Mahoney Asset Management lifted its position 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 boosted its stake in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after acquiring an additional 702 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Popular in the 3rd quarter worth approximately $81,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.
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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