Popular, Inc. (NASDAQ:BPOP) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts assign Popular a consensus rating of "Moderate Buy" from 12 firms, with an average 12‑month price target of about $161.18, and several brokers (UBS, Wells Fargo, Barclays, Truist, RBC) recently raised ratings or targets.
• Popular beat earnings expectations last quarter with $3.38 EPS versus $3.02 expected, though revenue of $806.6M slightly missed estimates; the stock trades at a P/E of 12.06 and a market cap of $9.66B.
• The company pays a quarterly dividend of $0.75 (annualized $3.00, ~2.0% yield, 24.35% payout ratio), while insiders have recently sold shares even as institutional investors own about 87.27% of the stock.

Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $161.1818.

Several analysts have issued reports on the stock. UBS Group upgraded shares of Popular from a "hold" rating to a "buy" rating and increased their target price for the stock from $142.00 to $160.00 in a research note on Tuesday, April 7th. Wells Fargo & Company increased their target price on shares of Popular from $135.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday, March 30th. Barclays increased their target price on shares of Popular from $175.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Truist Financial increased their target price on shares of Popular from $153.00 to $164.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada increased their target price on shares of Popular from $137.00 to $141.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 28th.

Popular Trading Up 0.4%

Shares of BPOP stock opened at $148.60 on Wednesday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 12.06, a PEG ratio of 0.77 and a beta of 0.59. The firm's 50 day moving average is $138.24 and its 200 day moving average is $127.85. Popular has a 12 month low of $86.61 and a 12 month high of $150.05.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.36. Popular had a net margin of 18.75% and a return on equity of 13.70%. The business had revenue of $806.59 million for the quarter, compared to analysts' expectations of $811.55 million. During the same period in the prior year, the company posted $2.51 EPS. On average, equities analysts predict that Popular will post 14.32 EPS for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were paid a $0.75 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $3.00 annualized dividend and a yield of 2.0%. Popular's dividend payout ratio is currently 24.35%.

Insider Activity at Popular

In other news, Director Alejandro M. Ballester sold 2,360 shares of the firm's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the sale, the director owned 57,449 shares in the company, valued at approximately $7,611,992.50. This trade represents a 3.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alejandro M. Sanchez sold 1,451 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $140.85, for a total transaction of $204,373.35. Following the sale, the director owned 3,415 shares in the company, valued at approximately $481,002.75. This trade represents a 29.82% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.13% of the company's stock.

Institutional Trading of Popular

Several institutional investors and hedge funds have recently made changes to their positions in BPOP. Royal Bank of Canada raised its position in shares of Popular by 23.1% during the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank's stock valued at $8,715,000 after buying an additional 17,729 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Popular during the 1st quarter valued at $257,000. Goldman Sachs Group Inc. raised its position in shares of Popular by 60.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank's stock valued at $20,647,000 after buying an additional 84,327 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Popular during the 1st quarter valued at $207,000. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Popular during the 2nd quarter valued at $252,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company's product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.

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