Popular (NASDAQ:BPOP) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Popular (NASDAQ:BPOP) from a buy rating to a hold rating in a research note released on Thursday.

Several other brokerages have also weighed in on BPOP. Royal Bank of Canada increased their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group began coverage on Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Barclays boosted their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Popular Trading Down 1.8 %

Shares of BPOP stock opened at $91.52 on Thursday. Popular has a twelve month low of $80.60 and a twelve month high of $106.81. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.75 and a beta of 0.77. The firm has a 50-day moving average price of $97.98 and a 200 day moving average price of $96.95.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, research analysts predict that Popular will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, March 18th. Popular’s payout ratio is 32.71%.

Insiders Place Their Bets

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the transaction, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Institutional Trading of Popular

Large investors have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management raised its holdings in 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 in the last quarter. Brooklyn Investment Group acquired a new position in Popular in the 3rd quarter valued at approximately $47,000. Smartleaf Asset Management LLC boosted its stake in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after buying an additional 218 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Popular during the 3rd quarter valued at $81,000. Finally, R Squared Ltd acquired a new position in shares of Popular in the fourth quarter worth $166,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Company Profile

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.