Popular, Inc. (NASDAQ:BPOP - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $119.65 and last traded at $119.03, with a volume of 8377 shares changing hands. The stock had previously closed at $119.19.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup boosted their price objective on Popular from $133.00 to $142.00 and gave the company a "buy" rating in a report on Thursday, July 24th. UBS Group restated a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price objective on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.88.
View Our Latest Stock Report on Popular
Popular Price Performance
The firm has a market cap of $8.24 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.62 and a beta of 0.65. The company has a fifty day moving average of $113.48 and a 200-day moving average of $102.44.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The firm had revenue of $800.03 million for the quarter, compared to analysts' expectations of $777.38 million. During the same quarter in the prior year, the firm earned $2.46 EPS. On average, sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $0.75 dividend. This is a positive change from Popular's previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 2.5%. Popular's dividend payout ratio is currently 27.13%.
Insiders Place Their Bets
In other Popular news, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the transaction, the executive vice president directly owned 27,382 shares in the company, valued at $2,851,561.48. This represents a 20.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Popular
Institutional investors have recently modified their holdings of the company. Steph & Co. bought a new position in shares of Popular during the 2nd quarter valued at about $39,000. Allworth Financial LP increased its position in shares of Popular by 2,158.8% during the 2nd 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 last quarter. Farther Finance Advisors LLC increased its position in shares of Popular by 112.2% during the 2nd 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 last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Popular during the 1st quarter valued at about $47,000. Finally, IFP Advisors Inc grew its position in Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank's stock worth $53,000 after acquiring an additional 471 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.
About Popular
(
Get Free Report)
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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