Popular, Inc. (NASDAQ:BPOP) Receives $116.14 Average Price Target from Brokerages

Popular, Inc. (NASDAQ:BPOP - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $116.14.

Several research firms have weighed in on BPOP. Piper Sandler increased their price objective on Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Barclays restated an "overweight" rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Wall Street Zen cut shares of Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $110.00 to $100.00 in a research report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th.

Insider Transactions at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following the completion of the sale, the vice president now directly owns 3,604 shares in the company, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the transaction, the executive vice president now directly owns 27,382 shares in the company, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Hedge Funds Weigh In On Popular

Several institutional investors have recently made changes to their positions in BPOP. Voya Investment Management LLC increased its holdings in Popular by 287.0% during the first quarter. Voya Investment Management LLC now owns 80,210 shares of the bank's stock valued at $7,409,000 after buying an additional 59,482 shares during the last quarter. Strs Ohio bought a new stake in shares of Popular during the 1st quarter valued at $1,915,000. Acadian Asset Management LLC grew its position in shares of Popular by 216.0% during the 1st quarter. Acadian Asset Management LLC now owns 128,259 shares of the bank's stock valued at $11,846,000 after acquiring an additional 87,669 shares during the period. Focus Partners Wealth purchased a new stake in shares of Popular in the 1st quarter worth $207,000. Finally, Great Lakes Advisors LLC raised its holdings in Popular by 15.1% in the 1st quarter. Great Lakes Advisors LLC now owns 3,171 shares of the bank's stock worth $293,000 after purchasing an additional 415 shares during the period. Institutional investors own 87.27% of the company's stock.

Popular Price Performance

BPOP traded up $0.39 during trading on Thursday, hitting $110.51. 1,220,009 shares of the stock traded hands, compared to its average volume of 533,067. The firm has a market capitalization of $7.57 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.65 and a beta of 0.62. Popular has a 12-month low of $78.23 and a 12-month high of $111.45. The firm has a 50-day moving average of $101.83 and a 200 day moving average of $97.29.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. The company had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. Popular had a net margin of 15.82% and a return on equity of 12.22%. Popular's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 earnings per share. As a group, equities analysts predict that Popular will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, May 29th. Popular's dividend payout ratio (DPR) is presently 28.90%.

Popular Company Profile

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.