Popular, Inc. (NASDAQ:BPOP – Get Rating)’s share price gapped down prior to trading on Friday . The stock had previously closed at $52.70, but opened at $50.99. Popular shares last traded at $50.98, with a volume of 126,171 shares changing hands.
Analyst Ratings Changes
A number of brokerages have commented on BPOP. Wells Fargo & Company reduced their price objective on Popular from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. Piper Sandler reduced their price objective on Popular from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 26th. Keefe, Bruyette & Woods cut Popular from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $85.00 to $74.00 in a research note on Thursday, January 26th. UBS Group lowered Popular from a “buy” rating to a “neutral” rating and dropped their target price for the company from $100.00 to $57.00 in a report on Wednesday. Finally, StockNews.com assumed coverage on Popular in a report on Thursday. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Popular has a consensus rating of “Hold” and a consensus target price of $72.20.
Popular Price Performance
The stock has a fifty day moving average price of $67.38 and a two-hundred day moving average price of $69.79. The company has a market cap of $3.65 billion, a P/E ratio of 3.45 and a beta of 0.85.
Popular Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 20th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, March 17th. This represents a $2.20 dividend on an annualized basis and a yield of 4.33%. Popular’s dividend payout ratio (DPR) is currently 14.95%.
Institutional Trading of Popular
Hedge funds have recently bought and sold shares of the business. Private Trust Co. NA bought a new stake in Popular during the second quarter worth $26,000. Assetmark Inc. bought a new stake in Popular during the third quarter worth $27,000. Picton Mahoney Asset Management bought a new stake in Popular during the third quarter worth $62,000. Covestor Ltd lifted its holdings in Popular by 68.9% during the first quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock worth $90,000 after acquiring an additional 447 shares during the period. Finally, Denali Advisors LLC bought a new stake in Popular during the third quarter worth $79,000. 86.01% of the stock is currently owned by institutional investors.
Popular Company Profile
Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico, Popular U.S., and Corporate Group. The Banco Popular de Puerto Rico segment includes commercial banking, consumer and retail banking, and other financial services.
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