Analysts Set Popular, Inc. (NASDAQ:BPOP) Price Target at $156.55

Shares of Popular, Inc. (NASDAQ:BPOP) have been assigned a consensus rating of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $156.5455.

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. UBS Group reiterated a “neutral” rating and set a $142.00 price objective on shares of Popular in a research note on Wednesday, February 4th. Royal Bank Of Canada lifted their target price on Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Truist Financial upped their target price on Popular from $153.00 to $164.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Hovde Group raised their price target on Popular from $153.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th.

Popular Stock Down 1.3%

Shares of Popular stock opened at $134.18 on Tuesday. The business has a 50-day moving average price of $134.34 and a 200 day moving average price of $125.06. Popular has a fifty-two week low of $78.23 and a fifty-two week high of $149.31. The firm has a market cap of $8.74 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.84 and a beta of 0.61.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping the consensus estimate of $3.02 by $0.36. The company had revenue of $806.59 million during the quarter, compared to analyst estimates of $811.55 million. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same quarter last year, the firm earned $2.51 EPS. As a group, equities research analysts anticipate that Popular will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, March 18th. Popular’s dividend payout ratio (DPR) is presently 24.35%.

Insider Activity

In other news, Director Alejandro M. Sanchez sold 1,451 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $140.85, for a total transaction of $204,373.35. Following the completion of the transaction, the director owned 3,415 shares in the company, valued at approximately $481,002.75. This represents a 29.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alejandro M. Ballester sold 2,360 shares of Popular stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the completion of the sale, the director owned 57,449 shares in the company, valued at approximately $7,611,992.50. This represents a 3.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Popular

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in Popular by 23.1% during the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock valued at $8,715,000 after acquiring an additional 17,729 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Popular during the first quarter valued at $257,000. Goldman Sachs Group Inc. raised its stake in shares of Popular by 60.6% during the first quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock valued at $20,647,000 after purchasing an additional 84,327 shares in the last quarter. Focus Partners Wealth acquired a new stake in Popular in the first quarter worth about $207,000. Finally, Sivia Capital Partners LLC acquired a new stake in Popular in the second quarter worth about $252,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

About Popular

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.