Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) have earned a consensus recommendation of "Buy" from the thirteen brokerages that are covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $187.0833.
A number of research firms recently weighed in on BPOP. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Popular in a research report on Friday, July 31st. Barclays boosted their target price on Popular from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Royal Bank Of Canada upped their price target on Popular from $163.00 to $181.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Truist Financial lifted their price objective on Popular from $192.00 to $197.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded Popular from a "hold" rating to a "strong-buy" rating in a report on Monday, September 7th.
Check Out Our Latest Research Report on Popular
Popular Trading Up 0.7%
Shares of BPOP opened at $162.03 on Friday. The company's 50-day moving average price is $170.85 and its 200 day moving average price is $155.90. Popular has a 12-month low of $108.74 and a 12-month high of $179.24. The firm has a market cap of $10.33 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 0.62 and a beta of 0.60.
Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.72 by $0.63. The company had revenue of $846.92 million during the quarter, compared to analyst estimates of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.34%. During the same quarter last year, the firm posted $3.09 earnings per share. Equities research analysts forecast that Popular will post 15.72 earnings per share for the current year.
Popular Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $3.60 annualized dividend and a yield of 2.2%. This is an increase from Popular's previous quarterly dividend of $0.75. Popular's dividend payout ratio is presently 24.32%.
Insider Activity at Popular
In other news, EVP Lidio Soriano sold 3,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $174.50, for a total transaction of $523,500.00. Following the sale, the executive vice president owned 107,320 shares of the company's stock, valued at approximately $18,727,340. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Javier Ferrer sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $175.43, for a total transaction of $6,140,050.00. Following the completion of the transaction, the chief executive officer directly owned 96,478 shares of the company's stock, valued at approximately $16,925,135.54. The trade was a 26.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 53,561 shares of company stock valued at $9,392,259. 2.13% of the stock is owned by company insiders.
Hedge Funds Weigh In On Popular
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Popular by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank's stock valued at $175,057,000 after acquiring an additional 64,778 shares in the last quarter. LSV Asset Management grew its stake in Popular by 9.3% during the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank's stock worth $129,966,000 after purchasing an additional 88,765 shares in the last quarter. Wellington Management Group LLP grew its stake in Popular by 1.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,004,676 shares of the bank's stock worth $164,948,000 after purchasing an additional 18,647 shares in the last quarter. Norges Bank purchased a new stake in Popular during the 4th quarter worth about $104,955,000. Finally, Verition Fund Management LLC increased its holdings in Popular by 4.3% during the 4th quarter. Verition Fund Management LLC now owns 719,253 shares of the bank's stock worth $89,561,000 after purchasing an additional 29,336 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.
About Popular
(
Get Free Report)
Popular, Inc NASDAQ: BPOP is a financial services holding company headquartered in San Juan, Puerto Rico. Founded in 1893, the company operates primarily through Banco Popular de Puerto Rico, one of the largest banking institutions in Puerto Rico.
Banco Popular provides a broad range of financial products and services for individuals, businesses and government entities. Its offerings include deposit accounts, consumer and commercial loans, residential mortgages, credit cards, auto financing, investment services, insurance and trust services.
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