Analysts Set Popular, Inc. (NASDAQ:BPOP) PT at $108.25

Popular, Inc. (NASDAQ:BPOP) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $108.25.

A number of analysts recently commented on BPOP shares. 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 note on Tuesday, December 3rd. 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. Piper Sandler decreased their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price target on shares of Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, UBS Group initiated coverage on shares of Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price for the company.

Popular Stock Performance

Shares of BPOP stock opened at $94.28 on Thursday. Popular has a fifty-two week low of $79.01 and a fifty-two week high of $105.01. The company has a market capitalization of $6.72 billion, a P/E ratio of 12.81, a PEG ratio of 0.76 and a beta of 0.81. The stock has a 50 day moving average price of $95.51 and a two-hundred day moving average price of $95.95.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. During the same period last year, the company posted $1.90 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Popular will post 8.46 earnings per share for the current year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a $0.70 dividend. This is an increase from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Friday, December 6th. Popular’s payout ratio is currently 38.04%.

Insider Transactions at Popular

In related news, EVP Beatriz Castellvi sold 3,500 shares of the firm’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 transaction of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares of the company’s stock, valued at $325,569.72. This represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

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

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.