Popular, Inc. (NASDAQ:BPOP - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $169.14 and last traded at $168.5160, with a volume of 368445 shares trading hands. The stock had previously closed at $164.18.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BPOP. UBS Group increased their price objective on Popular from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Royal Bank Of Canada lifted their target price on Popular from $141.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Piper Sandler boosted their price target on Popular from $173.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Weiss Ratings raised Popular from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods raised their price target on Popular from $155.00 to $177.00 and gave the company an "outperform" rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $171.18.
View Our Latest Stock Report on Popular
Popular Stock Up 2.6%
The business has a 50-day simple moving average of $152.91 and a two-hundred day simple moving average of $140.42. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 0.82 and a beta of 0.62.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (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 company had revenue of $816.08 million for the quarter, compared to analysts' expectations of $866.54 million. During the same period last year, the firm earned $2.56 EPS. On average, analysts forecast that Popular, Inc. will post 15.13 EPS for the current year.
Popular Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 29th. Popular's payout ratio is presently 22.16%.
Insiders Place Their Bets
In other news, Director Alejandro M. Ballester sold 23,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $150.00, for a total transaction of $3,450,000.00. Following the completion of the transaction, the director owned 34,588 shares in the company, valued at approximately $5,188,200. This trade represents a 39.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of Popular stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $148.51, for a total transaction of $920,762.00. Following the completion of the transaction, the executive vice president directly owned 11,255 shares in the company, valued at $1,671,480.05. This represents a 35.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 29,500 shares of company stock worth $4,415,870. 2.13% of the stock is owned by corporate insiders.
Institutional Trading of Popular
Several institutional investors and hedge funds have recently added to or reduced their stakes in BPOP. Vanguard Group Inc. increased its stake in Popular by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank's stock worth $1,057,167,000 after purchasing an additional 37,424 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Popular by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,361,681 shares of the bank's stock valued at $543,117,000 after purchasing an additional 58,452 shares in the last quarter. AQR Capital Management LLC grew its stake in Popular by 56.2% in 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 in the last quarter. Geode Capital Management LLC increased its position in Popular by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank's stock worth $175,057,000 after purchasing an additional 64,778 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Popular by 9.3% during the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank's stock worth $129,966,000 after purchasing an additional 88,765 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
Popular Company Profile
(
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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