Popular, Inc. (NASDAQ:BPOP) Receives Average Rating of "Buy" from Analysts

Key Points

• Popular, Inc. has received a consensus rating of "Buy" from nine analysts, with an average 1-year target price of $128.88.
• The company reported an impressive $3.09 EPS for the last quarter, exceeding the consensus estimate of $2.60, and its revenue reached $800.03 million.
• Popular recently declared a $0.1328 dividend, which will be paid on September 30th, with a payout ratio of 27.13%.

Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) have been assigned a consensus rating of "Buy" from the nine analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $128.8750.

BPOP has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Barclays increased their target price on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Hovde Group restated an "outperform" rating on shares of Popular in a report on Friday, August 29th. Zacks Research upgraded shares of Popular from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 1st. Finally, Citigroup increased their price target on shares of Popular from $133.00 to $142.00 and gave the company a "buy" rating in a research note on Thursday, July 24th.

Popular Trading Up 0.1%

Shares of BPOP opened at $125.47 on Tuesday. Popular has a 12 month low of $78.23 and a 12 month high of $128.66. The firm has a fifty day simple moving average of $117.53 and a 200 day simple moving average of $104.10. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.65 and a beta of 0.68.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping the consensus estimate of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The business had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. During the same quarter in the prior year, the company posted $2.46 earnings per share. As a group, research analysts predict that Popular will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently declared a sep 25 dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.1328 dividend. Popular's dividend payout ratio is currently 27.13%.

Insider Buying and Selling

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president owned 24,773 shares in the company, valued at $3,083,495.31. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Popular

Large investors have recently added to or reduced their stakes in the company. Steph & Co. acquired a new stake in Popular in the second quarter valued at $39,000. Allworth Financial LP raised its position in shares of Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank's stock valued at $42,000 after purchasing an additional 367 shares during the period. Farther Finance Advisors LLC raised its position in shares of Popular by 112.2% in the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank's stock valued at $46,000 after purchasing an additional 221 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Popular in the first quarter valued at about $47,000. Finally, IFP Advisors Inc raised its position in shares of Popular by 3,925.0% in the second quarter. IFP Advisors Inc now owns 483 shares of the bank's stock valued at $53,000 after purchasing an additional 471 shares during the period. Institutional investors and hedge funds own 87.27% of the company's stock.

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.

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