Popular, Inc. (NASDAQ:BPOP) Receives $108.25 Average PT from Brokerages

Popular, Inc. (NASDAQ:BPOP) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $108.25.

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. UBS Group assumed coverage on shares of Popular in a report on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on shares of Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada cut their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Piper Sandler lowered their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th.

Insider Buying and Selling

In related news, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the sale, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now owns 3,332 shares of the company’s stock, valued at $325,569.72. The trade was a 35.39 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Popular

Several institutional investors and hedge funds have recently modified their holdings of BPOP. Financial Management Professionals Inc. purchased a new stake in Popular during the 3rd quarter valued at about $29,000. Capital Performance Advisors LLP purchased a new stake in shares of Popular during the third quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in shares of Popular during the third quarter valued at approximately $47,000. Meeder Asset Management Inc. purchased a new position in Popular in the 2nd quarter worth approximately $48,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Popular in the 3rd quarter valued at approximately $81,000. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Performance

BPOP stock opened at $94.68 on Thursday. The company has a market capitalization of $6.75 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. Popular has a one year low of $79.01 and a one year high of $105.01. The company’s 50 day moving average price is $95.78 and its two-hundred day moving average price is $96.23.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The business had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. During the same quarter in the previous year, the business earned $1.90 EPS. Popular’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts predict that Popular will post 8.46 EPS for the current year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, December 6th. This is a boost from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is presently 38.04%.

About Popular

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.