Popular, Inc. (NASDAQ:BPOP - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $174.00 and last traded at $170.0570, with a volume of 137 shares. The stock had previously closed at $169.39.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on BPOP shares. UBS Group increased their price target on Popular from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Piper Sandler increased their target price on Popular from $173.00 to $190.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. Zacks Research lowered Popular from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Royal Bank Of Canada boosted their price target on Popular from $141.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Wells Fargo & Company upped their price objective on Popular from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $173.18.
View Our Latest Report on BPOP
Popular Stock Up 0.6%
The company has a market cap of $11.00 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.90 and a beta of 0.61. The firm has a 50 day moving average price of $155.56 and a two-hundred day moving average price of $142.65.
Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, beating the consensus estimate of $3.30 by $0.48. Popular had a return on equity of 14.53% and a net margin of 20.10%.The business had revenue of $816.08 million for the quarter, compared to analysts' expectations of $866.54 million. During the same period in the prior year, the business posted $2.56 earnings per share. On average, equities analysts expect that Popular, Inc. will post 15 earnings per share for the current year.
Popular Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. Popular's dividend payout ratio (DPR) is 22.16%.
Insider Buying and Selling
In other Popular news, Director Alejandro M. Ballester sold 23,000 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total value of $3,450,000.00. Following the transaction, the director directly owned 34,588 shares of the company's stock, valued at approximately $5,188,200. The trade was a 39.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alejandro M. Sanchez sold 300 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the sale, the director directly owned 3,960 shares of the company's stock, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,500 shares of company stock valued at $4,415,870 over the last 90 days. Company insiders own 2.13% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in Popular by 56.2% during the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank's stock valued at $376,314,000 after purchasing an additional 1,065,452 shares during the last quarter. Norges Bank bought a new stake in shares of Popular in the fourth quarter valued at approximately $104,955,000. Panagora Asset Management Inc. raised its position in shares of Popular by 85.2% in the fourth quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank's stock valued at $84,709,000 after purchasing an additional 312,984 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Popular by 2,752.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank's stock valued at $39,684,000 after buying an additional 301,494 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Popular by 12,382.7% during the 4th quarter. SG Americas Securities LLC now owns 258,517 shares of the bank's stock valued at $32,191,000 after buying an additional 256,446 shares in the last quarter. 87.27% of the stock is owned by institutional investors.
About Popular
(
Get Free Report)
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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