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

Shares of Popular, Inc. (NASDAQ:BPOP) have been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $106.22.

A number of equities analysts have recently issued reports on the company. Hovde Group upped their price objective on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their target price on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler initiated coverage on shares of Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Finally, Barclays lifted their target price on shares of Popular from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday.

Insider Activity

In related news, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in shares of Popular by 12.7% during the 4th quarter. UBS Group AG now owns 139,694 shares of the bank’s stock valued at $11,465,000 after purchasing an additional 15,710 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Popular by 3.6% during the 1st quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock worth $25,924,000 after acquiring an additional 10,308 shares during the period. Sei Investments Co. grew its holdings in shares of Popular by 2.2% during the 1st quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock worth $24,898,000 after acquiring an additional 6,067 shares during the period. Seven Eight Capital LP bought a new position in shares of Popular in the 4th quarter worth approximately $809,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Popular by 249.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock valued at $2,904,000 after purchasing an additional 23,436 shares during the period. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Price Performance

Shares of Popular stock opened at $100.27 on Tuesday. Popular has a 1 year low of $59.27 and a 1 year high of $105.01. The firm has a market cap of $7.25 billion, a PE ratio of 14.88, a PEG ratio of 0.68 and a beta of 0.78. The company has a 50 day simple moving average of $98.84 and a two-hundred day simple moving average of $91.52.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same period in the previous year, the firm posted $2.10 EPS. As a group, research analysts anticipate that Popular will post 8.86 earnings per share for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 36.80%.

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.