Popular (NASDAQ:BPOP) Hits New 12-Month High at $90.84

Popular, Inc. (NASDAQ:BPOP - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $90.84 and last traded at $90.63, with a volume of 26729 shares. The stock had previously closed at $90.30.

Analyst Ratings Changes

Several brokerages recently commented on BPOP. Hovde Group lifted their price objective on Popular from $112.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, April 24th. StockNews.com raised Popular from a "sell" rating to a "hold" rating in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $110.00 price target (up previously from $103.00) on shares of Popular in a report on Wednesday, April 24th. Citigroup boosted their price target on Popular from $103.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Finally, Wells Fargo & Company boosted their price target on Popular from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Popular presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.89.

Popular Price Performance

The company has a 50-day moving average price of $85.38 and a 200 day moving average price of $80.59. The firm has a market capitalization of $6.49 billion, a PE ratio of 13.32, a P/E/G ratio of 0.84 and a beta of 0.81.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were given a $0.62 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.76%. Popular's payout ratio is 36.80%.

Insider Activity

In related news, EVP Luis E. Cestero sold 4,641 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.09% of the company's stock.

Institutional Investors Weigh In On Popular

A number of hedge funds have recently made changes to their positions in BPOP. Raymond James & Associates raised its position in Popular by 11.3% during the third quarter. Raymond James & Associates now owns 29,986 shares of the bank's stock valued at $1,889,000 after purchasing an additional 3,042 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Popular by 25.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,950 shares of the bank's stock valued at $879,000 after buying an additional 2,795 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Popular during the third quarter valued at approximately $769,000. Advisor Partners II LLC bought a new position in shares of Popular during the third quarter valued at approximately $434,000. Finally, Park Avenue Securities LLC bought a new position in shares of Popular during the third quarter valued at approximately $206,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

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.