Popular, Inc. (NASDAQ:BPOP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Popular, Inc. (NASDAQ:BPOP) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $104.88.

Several equities analysts have recently weighed in on BPOP shares. Wells Fargo & Company lowered their price objective on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Piper Sandler dropped their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada cut their price objective on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Hovde Group raised their target price on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price target (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th.

Insider Activity

In related news, EVP Camille Burckhart sold 5,917 shares of the business’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 in the company, valued at approximately $2,920,387.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Popular news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,242 shares of company stock worth $1,102,880 over the last 90 days. Corporate insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in Popular by 3.6% during the first quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock valued at $25,924,000 after acquiring an additional 10,308 shares during the last quarter. Sei Investments Co. lifted its stake in Popular by 2.2% in the first quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock worth $24,898,000 after purchasing an additional 6,067 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Popular by 249.1% during the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock valued at $2,904,000 after buying an additional 23,436 shares during the period. Algert Global LLC boosted its position in shares of Popular by 10.4% during the second quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock valued at $7,815,000 after buying an additional 8,317 shares during the period. Finally, TCW Group Inc. grew its stake in shares of Popular by 70.7% during the second quarter. TCW Group Inc. now owns 82,321 shares of the bank’s stock valued at $7,280,000 after buying an additional 34,107 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Stock Performance

NASDAQ BPOP opened at $96.70 on Wednesday. Popular has a one year low of $67.24 and a one year high of $105.01. The stock has a 50-day moving average of $96.68 and a 200 day moving average of $93.80. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.74 and a beta of 0.79.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.65% and a net margin of 12.36%. The firm had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. During the same quarter last year, the business earned $1.90 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts predict that Popular will post 8.46 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 33.70%.

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.