Popular (NASDAQ:BPOP) Hits New 52-Week High - Here's Why

Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $116.38 and last traded at $115.58, with a volume of 12135 shares traded. The stock had previously closed at $115.58.

Analyst Upgrades and Downgrades

BPOP has been the subject of several analyst reports. UBS Group reissued a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Hovde Group upped their price target on shares of Popular from $114.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Wall Street Zen cut Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a report on Monday, June 30th. Finally, Keefe, Bruyette & Woods increased their target price on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $123.29.

Popular Stock Up 0.7%

The company has a market capitalization of $7.97 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.63 and a beta of 0.63. The firm has a 50-day moving average of $107.48 and a two-hundred day moving average of $99.46.

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

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.41%. Popular's dividend payout ratio is currently 28.90%.

Insiders Place Their Bets

In related news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the transaction, the vice president directly owned 3,604 shares in the company, valued at approximately $376,365.72. This trade represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction on 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 sale, the executive vice president owned 27,382 shares in the company, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.23% of the company's stock.

Institutional Trading of Popular

A number of hedge funds and other institutional investors have recently bought and sold shares of BPOP. Proficio Capital Partners LLC acquired a new stake in shares of Popular during the fourth quarter worth about $27,000. Steph & Co. acquired a new stake in shares of Popular during the second quarter worth about $39,000. Farther Finance Advisors LLC increased its position in shares of Popular by 112.2% during the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank's stock worth $46,000 after purchasing an additional 221 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Popular during the first quarter worth about $47,000. Finally, Versant Capital Management Inc increased its position in shares of Popular by 589.9% during the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after purchasing an additional 702 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.