Popular, Inc. (NASDAQ:BPOP) Receives $106.00 Consensus PT from Brokerages

Popular, Inc. (NASDAQ:BPOP) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $106.00.

BPOP has been the topic of several recent research reports. Piper Sandler cut their target price on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company raised their price objective on Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their target price on Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lowered their price target on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Barclays boosted their price objective on shares of Popular from $104.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th.

Popular Price Performance

Shares of Popular stock opened at $95.65 on Friday. The stock has a 50-day simple moving average of $96.60 and a 200-day simple moving average of $95.22. Popular has a 52-week low of $79.01 and a 52-week high of $105.01. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.76 and a beta of 0.81.

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

Popular Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $0.70 per share. This is a boost from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, December 6th. Popular’s dividend payout ratio is presently 38.04%.

Insiders Place Their Bets

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction dated 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 in the company, valued at approximately $325,569.72. The trade was a 35.39 % 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, EVP Beatriz Castellvi sold 3,500 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

Large investors have recently modified their holdings of the stock. Mather Group LLC. bought a new stake in Popular in the second quarter valued at $44,000. CWM LLC increased its position in shares of Popular by 43.7% during the 2nd quarter. CWM LLC now owns 2,542 shares of the bank’s stock worth $225,000 after purchasing an additional 773 shares in the last quarter. SG Americas Securities LLC bought a new position in Popular during the 2nd quarter valued at about $1,268,000. Artemis Investment Management LLP acquired a new position in Popular in the second quarter valued at about $4,171,000. Finally, Wedmont Private Capital grew its stake in Popular by 9.5% during the second quarter. Wedmont Private Capital now owns 2,987 shares of the bank’s stock worth $278,000 after buying an additional 258 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

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.