Popular, Inc. (NASDAQ:BPOP) Given Average Recommendation of “Moderate Buy” by Brokerages

Popular, Inc. (NASDAQ:BPOP) has been given an average rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $133.7778.

BPOP has been the subject of a number of recent analyst reports. Truist Financial began coverage on shares of Popular in a research note on Thursday, October 9th. They issued a “buy” rating and a $153.00 price target for the company. UBS Group reaffirmed a “neutral” rating on shares of Popular in a report on Tuesday, January 6th. Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Wells Fargo & Company reduced their price target on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Barclays restated an “overweight” rating on shares of Popular in a research note on Wednesday, October 8th.

Popular Stock Down 1.8%

NASDAQ:BPOP opened at $127.83 on Monday. Popular has a twelve month low of $78.23 and a twelve month high of $131.10. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.53 and a beta of 0.63. The stock’s 50 day moving average price is $119.48 and its two-hundred day moving average price is $119.18.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, beating the consensus estimate of $3.04 by $0.10. The company had revenue of $720.83 million during the quarter, compared to the consensus estimate of $803.95 million. Popular had a return on equity of 13.27% and a net margin of 17.63%.The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 EPS. As a group, analysts anticipate that Popular will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, December 5th. Popular’s dividend payout ratio is 26.55%.

Insider Buying and Selling at Popular

In other Popular news, Director Richard L. Carrion sold 25,000 shares of Popular stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the completion of the transaction, the director directly owned 193,020 shares of the company’s stock, valued at $21,907,770. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $114.84, for a total transaction of $114,840.00. Following the completion of the transaction, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. This represents a 27.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in shares of Popular during the third quarter worth approximately $31,000. Steph & Co. acquired a new stake in Popular during the 2nd quarter worth approximately $39,000. Allworth Financial LP lifted its holdings in Popular by 2,158.8% during the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after purchasing an additional 367 shares during the last quarter. True Wealth Design LLC boosted its stake in Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after purchasing an additional 255 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock valued at $46,000 after buying an additional 221 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.