Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $114.43.
A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $110.00 to $100.00 in a report on Wednesday, April 9th. Hovde Group reduced their target price on shares of Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods raised their price target on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen cut shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd.
Read Our Latest Stock Analysis on BPOP
Insider Activity at Popular
In related news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the completion of the transaction, the vice president now directly owns 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.09% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Popular
A number of hedge funds have recently made changes to their positions in BPOP. Strs Ohio acquired a new position in Popular during the 1st quarter worth approximately $1,915,000. Acadian Asset Management LLC lifted its position in Popular by 216.0% during the 1st quarter. Acadian Asset Management LLC now owns 128,259 shares of the bank's stock worth $11,846,000 after acquiring an additional 87,669 shares in the last quarter. Focus Partners Wealth acquired a new position in Popular during the 1st quarter worth approximately $207,000. Great Lakes Advisors LLC lifted its position in Popular by 15.1% during the 1st quarter. Great Lakes Advisors LLC now owns 3,171 shares of the bank's stock worth $293,000 after acquiring an additional 415 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in Popular during the 1st quarter worth approximately $763,000. Hedge funds and other institutional investors own 87.27% of the company's stock.
Popular Price Performance
Popular stock traded up $0.05 during mid-day trading on Friday, reaching $103.80. 545,698 shares of the company traded hands, compared to its average volume of 511,751. Popular has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The firm's fifty day moving average is $94.60 and its two-hundred day moving average is $96.36.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. During the same quarter last year, the business posted $1.43 EPS. The company's revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that Popular will post 10.06 earnings per share for the current year.
Popular Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be given a $0.70 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.70%. Popular's payout ratio is currently 28.90%.
About Popular
(
Get Free ReportPopular, 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.
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