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

Popular, Inc. (NASDAQ:BPOP) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $99.67.

Several analysts have recently commented on BPOP shares. Wells Fargo & Company increased their price objective on Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Citigroup increased their price target on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Piper Sandler raised their price objective on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $110.00 target price (up previously from $103.00) on shares of Popular in a research note on Wednesday, April 24th. Finally, Hovde Group raised their price target on shares of Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th.

Popular Trading Up 4.1 %

Shares of BPOP stock opened at $91.17 on Thursday. The firm has a fifty day simple moving average of $87.89 and a two-hundred day simple moving average of $85.39. Popular has a 12 month low of $59.27 and a 12 month high of $93.09. The firm has a market capitalization of $6.59 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.81 and a beta of 0.80.

Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, April 23rd. The bank reported $1.87 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.09). Popular had a return on equity of 11.67% and a net margin of 11.95%. The business had revenue of $714.56 million for the quarter, compared to the consensus estimate of $706.00 million. On average, equities analysts predict that Popular will post 8.31 earnings per share for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Thursday, May 30th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, May 30th. Popular’s dividend payout ratio is currently 36.80%.

Insider Buying and Selling at Popular

In other news, EVP Manuel Chinea sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $90.70, for a total value of $1,088,400.00. Following the sale, the executive vice president now owns 27,086 shares of the company’s stock, valued at $2,456,700.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Popular news, EVP Gilberto Monzon sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the completion of the transaction, the executive vice president now owns 48,320 shares in the company, valued at approximately $4,145,856. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Manuel Chinea sold 12,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $90.70, for a total value of $1,088,400.00. Following the sale, the executive vice president now owns 27,086 shares in the company, valued at $2,456,700.20. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On Popular

Large investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Popular in the first quarter valued at approximately $42,000. Mather Group LLC. bought a new stake in Popular during the second quarter worth about $44,000. Bruce G. Allen Investments LLC purchased a new position in shares of Popular in the 4th quarter worth about $44,000. Principal Securities Inc. bought a new position in shares of Popular during the 4th quarter valued at about $83,000. Finally, GAMMA Investing LLC purchased a new position in shares of Popular during the 4th quarter valued at about $90,000. 87.27% of the stock is currently owned by institutional investors.

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.