According to Zacks, “Popular, Inc. is a diversified, publicly owned bank holding company. The corporation’s principal subsidiary, Banco Popular de Puerto Rico, has one of the largest retail franchise in Puerto Rico, operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands, the British Virgin Islands, and New York. “
Other analysts have also recently issued research reports about the stock. BTIG Research upped their target price on shares of Popular to $66.00 and gave the company 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Popular currently has a consensus rating of Buy and a consensus target price of $59.43.
NASDAQ BPOP opened at $56.38 on Thursday. The company has a market capitalization of $5.45 billion, a PE ratio of 10.10 and a beta of 1.17. The company has a 50-day simple moving average of $53.68. Popular has a twelve month low of $44.22 and a twelve month high of $58.99.
Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, April 18th. The bank reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.24. The business had revenue of $607.39 million for the quarter, compared to analysts’ expectations of $603.70 million. Popular had a net margin of 24.69% and a return on equity of 10.58%. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, research analysts forecast that Popular will post 6.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Tuesday, May 28th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.20 dividend on an annualized basis and a yield of 2.13%. Popular’s dividend payout ratio (DPR) is presently 25.16%.
Large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in Popular in the fourth quarter valued at about $30,000. O Shaughnessy Asset Management LLC acquired a new position in Popular in the first quarter valued at about $72,000. First Hawaiian Bank boosted its position in Popular by 85.9% in the first quarter. First Hawaiian Bank now owns 1,915 shares of the bank’s stock valued at $100,000 after buying an additional 885 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in Popular in the fourth quarter valued at about $141,000. Finally, Hanseatic Management Services Inc. boosted its position in Popular by 18.9% in the first quarter. Hanseatic Management Services Inc. now owns 3,218 shares of the bank’s stock valued at $168,000 after buying an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.
Popular Company Profile
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.
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