Popular (NASDAQ:BPOP) Reaches New 12-Month High at $89.81

Popular, Inc. (NASDAQ:BPOP)’s share price reached a new 52-week high on Friday . The stock traded as high as $89.81 and last traded at $89.24, with a volume of 168332 shares changing hands. The stock had previously closed at $88.05.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BPOP shares. Royal Bank of Canada upped their target price on shares of Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. UBS Group raised their price objective on Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, January 26th. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company increased their price target on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler boosted their price objective on shares of Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.89.

Popular Price Performance

The firm’s 50 day moving average is $84.89 and its 200 day moving average is $79.96. The company has a market capitalization of $6.42 billion, a PE ratio of 13.18, a P/E/G ratio of 0.83 and a beta of 0.81.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Wednesday, March 13th. Popular’s dividend payout ratio (DPR) is 36.80%.

Insider Transactions at Popular

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is currently owned by company insiders.

Institutional Trading of Popular

Several large investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new stake in shares of Popular during the 4th quarter valued at about $44,000. Principal Securities Inc. purchased a new position in shares of Popular during the 4th quarter worth approximately $83,000. Assetmark Inc. raised its position in shares of Popular by 55.4% in the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock worth $89,000 after acquiring an additional 506 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Popular in the 4th quarter worth approximately $90,000. Finally, Clear Street Markets LLC purchased a new position in shares of Popular in the 4th quarter valued at approximately $139,000. Institutional investors own 87.27% of the company’s stock.

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.