Popular (NASDAQ:BPOP) Shares Gap Down to $52.70

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 (NASDAQ:BPOP – Get Rating) last posted its earnings results on Wednesday, January 25th. The bank reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.81. The company had revenue of $559.57 million for the quarter, compared to analyst estimates of $730.82 million. Popular had a return on equity of 26.47% and a net margin of 32.75%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. Equities analysts predict that Popular, Inc. will post 8.63 earnings per share for the current fiscal year.

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

(Get Rating)

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.