Popular, Inc. (NASDAQ:BPOP) Stock Has Average Price Target of $187.42

Key Points

• Analysts remain bullish on Popular: Thirteen brokerages have issued an average “Buy” rating, with a 12-month average price target of $187.42. Recent targets range from $181 to $207, though Zacks downgraded the stock to “Hold.”
• Popular reported quarterly EPS of $4.35, exceeding consensus estimates of $3.72, while revenue of $846.92 million fell short of expectations.
• The bank raised its quarterly dividend from $0.75 to $0.90 per share, equivalent to an annualized $3.60 dividend and a 2.3% yield; institutional investors own 87.27% of the stock.

Popular, Inc. (NASDAQ:BPOP - Get Free Report) has received an average recommendation of "Buy" from the thirteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $187.42.

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Popular from $190.00 to $207.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Weiss Ratings reissued a "buy (a-)" rating on shares of Popular in a report on Friday, July 31st. Royal Bank Of Canada increased their price objective on shares of Popular from $163.00 to $181.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Zacks Research cut shares of Popular from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 8th. Finally, Citigroup reduced their price objective on shares of Popular from $200.00 to $192.00 and set a "buy" rating for the company in a report on Tuesday, September 22nd.

Popular Trading Down 0.4%

Shares of BPOP stock opened at $155.82 on Wednesday. Popular has a 12 month low of $108.74 and a 12 month high of $179.24. The company has a market capitalization of $9.94 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.58 and a beta of 0.63. The stock has a 50 day moving average of $165.87 and a two-hundred day moving average of $159.16.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.72 by $0.63. The business had revenue of $846.92 million for the quarter, compared to analysts' expectations of $878.41 million. Popular had a return on equity of 15.34% and a net margin of 21.37%. During the same period in the previous year, the business posted $3.09 earnings per share. Sell-side analysts predict that Popular will post 15.70 earnings per share for the current fiscal year.

Popular Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This is an increase from Popular's previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a yield of 2.3%. Popular's payout ratio is presently 24.32%.

Insiders Place Their Bets

In related news, Director Maria Ferre sold 3,385 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $175.42, for a total value of $593,796.70. Following the completion of the transaction, the director owned 10,156 shares of the company's stock, valued at $1,781,565.52. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Luis Cestero sold 8,500 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $176.36, for a total transaction of $1,499,060.00. Following the completion of the transaction, the executive vice president directly owned 16,013 shares of the company's stock, valued at $2,824,052.68. This trade represents a 34.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,561 shares of company stock valued at $9,392,259 over the last 90 days. Company insiders own 2.13% of the company's stock.

Institutional Investors Weigh In On Popular

Large investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC grew its stake in Popular by 97.2% during the third quarter. Elevation Wealth Partners LLC now owns 280 shares of the bank's stock worth $44,000 after buying an additional 138 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Popular by 30.5% during the first quarter. Parallel Advisors LLC now owns 321 shares of the bank's stock worth $43,000 after buying an additional 75 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Popular by 86.7% during the third quarter. Farther Finance Advisors LLC now owns 1,049 shares of the bank's stock worth $163,000 after buying an additional 487 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Popular in the second quarter valued at approximately $216,000. Finally, IFP Advisors Inc raised its stake in shares of Popular by 5.7% in the second quarter. IFP Advisors Inc now owns 1,458 shares of the bank's stock valued at $239,000 after acquiring an additional 79 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

About Popular

Popular, Inc NASDAQ: BPOP is a financial services company headquartered in San Juan, Puerto Rico. Founded in 1893, the company provides banking and related financial services primarily through Banco Popular de Puerto Rico, its principal subsidiary, and serves individuals, businesses and institutions.

Its products and services include consumer and commercial deposit accounts, personal and business loans, residential mortgages, credit cards, auto financing, investment and wealth-management services, insurance-related offerings and electronic banking solutions.

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