Popular, Inc. (NASDAQ:BPOP) Receives $113.00 Consensus Price Target from Brokerages

Popular, Inc. (NASDAQ:BPOP) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $113.00.

Several research firms recently commented on BPOP. Keefe, Bruyette & Woods raised their target price on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. UBS Group initiated coverage on Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target for the company. Barclays raised 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. Wells Fargo & Company raised their price objective on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada raised their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th.

Insider Buying and Selling at Popular

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

Hedge Funds Weigh In On Popular

A number of institutional investors have recently made changes to their positions in BPOP. KBC Group NV grew its position in Popular by 19.0% during the third quarter. KBC Group NV now owns 2,076 shares of the bank’s stock worth $208,000 after buying an additional 331 shares in the last quarter. CIBC Asset Management Inc bought a new position in Popular in the 3rd quarter worth approximately $213,000. Thrivent Financial for Lutherans raised its position in Popular by 284.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank’s stock worth $7,260,000 after purchasing an additional 53,590 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Popular during the 3rd quarter valued at $443,000. Finally, Baron Wealth Management LLC acquired a new position in shares of Popular in the 3rd quarter valued at $227,000. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Up 1.3 %

Shares of Popular stock opened at $91.37 on Tuesday. The firm has a market cap of $6.36 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.75 and a beta of 0.77. The business has a 50-day moving average price of $98.48 and a 200 day moving average price of $97.12. Popular has a fifty-two week low of $80.60 and a fifty-two week high of $106.81.

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

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 3.06%. Popular’s dividend payout ratio (DPR) is currently 32.71%.

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.