Popular (NASDAQ:BPOP) Sets New 12-Month Low – Here’s What Happened

Popular, Inc. (NASDAQ:BPOP) shares hit a new 52-week low during trading on Friday . The company traded as low as $78.59 and last traded at $80.07, with a volume of 357201 shares traded. The stock had previously closed at $84.01.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada increased their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. UBS Group started coverage on Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target on the stock. Finally, Barclays upped their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Popular Stock Performance

The firm’s fifty day simple moving average is $96.78 and its 200 day simple moving average is $96.64. The firm has a market cap of $5.72 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, equities research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. Popular’s dividend payout ratio is currently 32.71%.

Insider Buying and Selling

In other news, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Institutional Trading of Popular

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management increased its position in Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after acquiring an additional 118 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Popular during the 3rd quarter valued at about $81,000. Versant Capital Management Inc raised its position in Popular by 589.9% in the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock worth $76,000 after purchasing an additional 702 shares during the period. Finally, R Squared Ltd bought a new stake in Popular in the fourth quarter worth about $166,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.