Popular (NASDAQ:BPOP - Get Free Report) issued its earnings results on Thursday. The bank reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.24, Zacks reports. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same period in the prior year, the business earned $2.56 earnings per share.
Popular Stock Performance
Shares of NASDAQ:BPOP traded up $1.38 during trading on Thursday, reaching $149.68. The company had a trading volume of 177,662 shares, compared to its average volume of 559,582. The firm's fifty day moving average is $138.29 and its 200 day moving average is $128.00. The firm has a market capitalization of $9.73 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.78 and a beta of 0.59. Popular has a twelve month low of $92.93 and a twelve month high of $151.99.
Popular Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, March 18th. Popular's payout ratio is 24.35%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Popular from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Piper Sandler initiated coverage on shares of Popular in a report on Thursday, January 15th. They issued an "overweight" rating and a $152.00 price objective on the stock. Barclays boosted their target price on shares of Popular from $175.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. Royal Bank Of Canada boosted their price objective on Popular from $137.00 to $141.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 28th. Finally, Bank of America raised Popular from a "neutral" rating to a "buy" rating and set a $156.00 price objective for the company in a report on Tuesday, February 3rd. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.18.
Check Out Our Latest Report on Popular
Insider Buying and Selling
In other news, Director Alejandro M. Sanchez sold 1,451 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $140.85, for a total value of $204,373.35. Following the sale, the director owned 3,415 shares of the company's stock, valued at approximately $481,002.75. The trade was a 29.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alejandro M. Ballester sold 2,360 shares of the company's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total value of $312,700.00. Following the completion of the sale, the director owned 57,449 shares of the company's stock, valued at approximately $7,611,992.50. This trade represents a 3.95% decrease in their position. The SEC filing for this sale provides additional information. 2.13% of the stock is owned by company insiders.
Institutional Investors Weigh In On Popular
A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of Popular by 56.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank's stock worth $376,314,000 after purchasing an additional 1,065,452 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Popular by 2,752.6% during the third quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank's stock valued at $39,684,000 after purchasing an additional 301,494 shares during the last quarter. Bridgewater Associates LP boosted its holdings in Popular by 91.2% during the fourth quarter. Bridgewater Associates LP now owns 313,203 shares of the bank's stock worth $39,000,000 after buying an additional 149,361 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Popular by 22.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 814,908 shares of the bank's stock worth $101,472,000 after buying an additional 149,131 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Popular by 63.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 381,296 shares of the bank's stock worth $47,479,000 after buying an additional 147,749 shares during the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
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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