Popular, Inc. (NASDAQ:BPOP - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $174.79 and last traded at $174.1110, with a volume of 284875 shares trading hands. The stock had previously closed at $172.27.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Popular from $173.00 to $190.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Royal Bank Of Canada boosted their price target on Popular from $141.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Benchmark began coverage on Popular in a research report on Wednesday, July 15th. They set a "buy" rating and a $201.00 price objective for the company. Wells Fargo & Company increased their price objective on Popular from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Finally, Zacks Research lowered Popular from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $177.83.
Get Our Latest Analysis on Popular
Popular Stock Up 0.7%
The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.93 and a beta of 0.61. The company's fifty day moving average is $159.21 and its 200 day moving average is $145.21.
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 net margin of 20.10% and a return on equity of 14.53%. The firm had revenue of $816.08 million for the quarter, compared to analyst estimates of $866.54 million. During the same period in the previous year, the business earned $2.56 EPS. On average, equities research analysts forecast that Popular, Inc. will post 15.05 EPS for the current fiscal year.
Popular Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors 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 dividend on an annualized basis and a dividend yield of 1.7%. Popular's payout ratio is currently 22.16%.
Insider Activity at Popular
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 transaction of $3,450,000.00. Following the transaction, the director owned 34,588 shares of the company's stock, valued at $5,188,200. The trade was a 39.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alejandro M. Sanchez sold 300 shares of the company'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 value of $45,108.00. Following the sale, the director owned 3,960 shares in the company, valued at approximately $595,425.60. This represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 29,500 shares of company stock valued at $4,415,870. Insiders own 2.13% of the company's stock.
Hedge Funds Weigh In On Popular
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Popular by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank's stock valued at $1,057,167,000 after acquiring an additional 37,424 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Popular by 1.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,361,681 shares of the bank's stock worth $543,117,000 after purchasing an additional 58,452 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Popular by 56.2% during 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. Geode Capital Management LLC raised its holdings in shares of Popular by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank's stock valued at $175,057,000 after purchasing an additional 64,778 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Popular by 9.3% in the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank's stock valued at $129,966,000 after purchasing an additional 88,765 shares during the period. 87.27% of the stock is currently 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.
Further Reading
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