Popular, Inc. (NASDAQ:BPOP) Receives $104.88 Average PT from Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $104.88.

A number of brokerages have commented on BPOP. Hovde Group boosted their target price on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Piper Sandler lowered their price target on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada dropped their price target on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays decreased their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th.

Insider Activity

In other news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The trade was a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the executive vice president now owns 25,115 shares in the company, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,242 shares of company stock worth $1,102,880 over the last three months. 2.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Popular

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in shares of Popular by 53.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,360 shares of the bank’s stock valued at $825,000 after buying an additional 3,275 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Popular by 7.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,040 shares of the bank’s stock valued at $268,000 after purchasing an additional 208 shares during the period. Sei Investments Co. lifted its stake in Popular by 2.2% during 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 in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Popular in the first quarter valued at $42,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Popular by 3.6% in the 1st quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock valued at $25,924,000 after buying an additional 10,308 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Trading Down 0.2 %

BPOP opened at $96.09 on Wednesday. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.77 and a beta of 0.79. Popular has a 12-month low of $71.08 and a 12-month high of $105.01. The business’s fifty day simple moving average is $96.54 and its 200-day simple moving average is $93.92.

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

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.58%. Popular’s dividend payout ratio is currently 33.70%.

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.