Popular, Inc. (NASDAQ:BPOP – Get Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Stockholders of record on Thursday, June 2nd will be paid a dividend of 0.55 per share by the bank on Friday, July 1st. This represents a $2.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, June 1st.
Popular has raised its dividend payment by an average of 20.5% per year over the last three years and has increased its dividend every year for the last 4 years. Popular has a payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Popular to earn $10.79 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 20.4%.
Shares of NASDAQ BPOP opened at $77.92 on Friday. Popular has a fifty-two week low of $68.31 and a fifty-two week high of $99.49. The firm’s 50-day simple moving average is $81.20 and its 200 day simple moving average is $84.28. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 7.07 and a beta of 0.97.
In other news, Director C Kim Goodwin sold 8,154 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $80.05, for a total transaction of $652,727.70. Following the completion of the transaction, the director now directly owns 39,275 shares in the company, valued at approximately $3,143,963.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Covestor Ltd raised its stake in shares of Popular by 68.9% during the first quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock valued at $90,000 after acquiring an additional 447 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Popular by 51.9% during the first quarter. Lazard Asset Management LLC now owns 1,121 shares of the bank’s stock valued at $91,000 after acquiring an additional 383 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Popular during the first quarter valued at about $129,000. Metropolitan Life Insurance Co NY bought a new position in shares of Popular during the fourth quarter valued at about $130,000. Finally, Forum Financial Management LP bought a new position in shares of Popular during the fourth quarter valued at about $202,000. 89.42% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on BPOP. StockNews.com lowered shares of Popular from a “buy” rating to a “hold” rating in a research note on Friday, March 25th. UBS Group lifted their price objective on shares of Popular from $129.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, March 21st. Finally, Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Thursday, March 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $108.20.
About Popular (Get Rating)
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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.
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