Popular, Inc. (NASDAQ:BPOP) Receives $104.88 Average Price Target from Brokerages

Popular, Inc. (NASDAQ:BPOP) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $104.88.

A number of analysts have weighed in on the stock. Piper Sandler reduced their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada lowered their target price on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 price target (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Finally, Wells Fargo & Company dropped their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th.

Popular Trading Down 0.2 %

BPOP stock opened at $96.09 on Wednesday. The firm has a market cap of $6.85 billion, a PE ratio of 13.06, a PEG ratio of 0.75 and a beta of 0.79. Popular has a 1 year low of $71.08 and a 1 year high of $105.01. The company has a fifty day simple moving average of $96.52 and a 200 day simple moving average of $94.05.

Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The company had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 EPS. As a group, analysts forecast that Popular will post 8.46 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 33.70%.

Insider Buying and Selling

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction of $347,060.00. Following the sale, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The trade was a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,242 shares of company stock valued at $1,102,880 over the last ninety days. 2.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Popular

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Popular by 0.5% in the 3rd quarter. State Street Corp now owns 2,056,377 shares of the bank’s stock worth $207,475,000 after buying an additional 10,599 shares during the last quarter. American Century Companies Inc. boosted its position in Popular by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock valued at $107,781,000 after buying an additional 113,838 shares during the period. Principal Financial Group Inc. grew its stake in shares of Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock worth $105,769,000 after purchasing an additional 71,782 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Popular by 8.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank’s stock worth $90,537,000 after acquiring an additional 67,620 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Popular by 23.6% during the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock valued at $75,129,000 after purchasing an additional 164,270 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.