Popular, Inc. (NASDAQ:BPOP) Receives $111.14 Consensus PT from Brokerages

Popular, Inc. (NASDAQ:BPOP) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $111.14.

A number of research firms recently issued reports on BPOP. Royal Bank of Canada increased their target price 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. Barclays reiterated an “overweight” rating and set a $125.00 price objective (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price 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. StockNews.com cut shares of Popular from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company upgraded Popular from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $110.00 to $100.00 in a report on Wednesday, April 9th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management lifted its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after buying an additional 218 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Popular during the third quarter valued at approximately $81,000. Versant Capital Management Inc lifted its holdings in 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 last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Popular by 33.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank’s stock worth $162,000 after acquiring an additional 438 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Up 0.4%

Shares of NASDAQ BPOP opened at $104.07 on Wednesday. Popular has a 52-week low of $78.23 and a 52-week high of $106.81. The firm has a fifty day moving average of $91.05 and a 200-day moving average of $95.40. The stock has a market capitalization of $7.22 billion, a PE ratio of 12.16, a P/E/G ratio of 0.75 and a beta of 0.60.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to analysts’ expectations of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 earnings per share. Equities research analysts expect that Popular will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be issued a $0.70 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.69%. Popular’s dividend payout ratio is presently 28.90%.

About Popular

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.