Popular Inc (NASDAQ:BPOP) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 2,706,500 shares, a drop of 12.5% from the May 30th total of 3,092,500 shares. Based on an average daily trading volume, of 475,800 shares, the short-interest ratio is presently 5.7 days. Approximately 2.8% of the company’s shares are short sold.
BPOP stock traded up $1.12 during trading on Friday, hitting $56.38. The company had a trading volume of 413,092 shares, compared to its average volume of 425,701. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 11.82 and a beta of 1.17. Popular has a 52-week low of $44.22 and a 52-week high of $58.99. The firm has a 50 day moving average of $53.68.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.24. The company had revenue of $607.39 million for the quarter, compared to the consensus estimate of $603.70 million. Popular had a net margin of 24.69% and a return on equity of 10.58%. During the same quarter last year, the firm posted $0.89 EPS. Equities analysts expect that Popular will post 6.59 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Tuesday, May 28th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, May 24th. Popular’s dividend payout ratio is presently 25.16%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Private Wealth LLC increased its position in Popular by 4.6% during the 2nd quarter. Boston Private Wealth LLC now owns 9,241 shares of the bank’s stock valued at $501,000 after purchasing an additional 408 shares during the period. Cerebellum GP LLC increased its position in Popular by 9.5% during the 1st quarter. Cerebellum GP LLC now owns 5,866 shares of the bank’s stock valued at $306,000 after purchasing an additional 511 shares during the period. Hanseatic Management Services Inc. increased its position in Popular by 18.9% during the 1st quarter. Hanseatic Management Services Inc. now owns 3,218 shares of the bank’s stock valued at $168,000 after purchasing an additional 512 shares during the period. First Republic Investment Management Inc. increased its position in Popular by 10.3% during the 1st quarter. First Republic Investment Management Inc. now owns 5,526 shares of the bank’s stock valued at $288,000 after purchasing an additional 514 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in Popular by 11.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 6,069 shares of the bank’s stock valued at $329,000 after purchasing an additional 617 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on BPOP. BTIG Research raised their price target on shares of Popular to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Saturday, June 29th. Finally, Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.43.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
See Also: Dividend
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