Popular, Inc. (NASDAQ:BPOP) Receives $99.89 Consensus PT from Analysts

Popular, Inc. (NASDAQ:BPOP) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $99.89.

Several brokerages recently issued reports on BPOP. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $110.00 price target (up from $103.00) on shares of Popular in a report on Wednesday, April 24th. Citigroup boosted their target price on Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Wells Fargo & Company increased their price target on Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Piper Sandler increased their target price on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Popular in the fourth quarter valued at approximately $66,881,000. Wellington Management Group LLP lifted its stake in Popular by 21.7% in the third quarter. Wellington Management Group LLP now owns 3,599,881 shares of the bank’s stock valued at $226,829,000 after acquiring an additional 642,694 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Popular by 57.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,008,732 shares of the bank’s stock valued at $88,859,000 after acquiring an additional 366,870 shares during the period. Verition Fund Management LLC increased its stake in shares of Popular by 395.0% during the 4th quarter. Verition Fund Management LLC now owns 429,197 shares of the bank’s stock worth $35,224,000 after purchasing an additional 342,492 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Popular by 64.9% in the 3rd quarter. American Century Companies Inc. now owns 726,743 shares of the bank’s stock valued at $45,792,000 after purchasing an additional 286,119 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Trading Down 0.1 %

BPOP stock opened at $84.85 on Friday. Popular has a 1-year low of $58.00 and a 1-year high of $93.09. The business’s 50 day moving average is $87.15 and its 200-day moving average is $84.51. The firm has a market cap of $6.13 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.80 and a beta of 0.79.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.09). Popular had a net margin of 11.95% and a return on equity of 11.67%. The company had revenue of $714.56 million during the quarter, compared to the consensus estimate of $706.00 million. Sell-side analysts forecast that Popular will post 8.31 EPS for the current year.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, May 30th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, May 30th. Popular’s dividend payout ratio (DPR) is presently 36.80%.

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.