Popular, Inc. (NASDAQ:BPOP - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $123.68 and last traded at $122.86, with a volume of 633437 shares traded. The stock had previously closed at $121.94.
Analysts Set New Price Targets
BPOP has been the subject of several recent analyst reports. Hovde Group reiterated an "outperform" rating on shares of Popular in a research note on Friday. Citigroup boosted their price objective on shares of Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group reiterated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.88.
Get Our Latest Research Report on BPOP
Popular Price Performance
The stock's fifty day simple moving average is $115.52 and its 200-day simple moving average is $103.19. The firm has a market cap of $8.49 billion, a PE ratio of 12.17, a PEG ratio of 0.65 and a beta of 0.68.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same quarter last year, the company posted $2.46 earnings per share. Analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $0.75 dividend. The ex-dividend date is Friday, September 12th. This is an increase from Popular's previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.4%. Popular's dividend payout ratio (DPR) is currently 29.07%.
Insider Buying and Selling at Popular
In other news, EVP Camille Burckhart sold 7,000 shares of the 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 sale, the executive vice president owned 27,382 shares in the company, valued at $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.09% of the stock is owned by insiders.
Institutional Trading of Popular
A number of hedge funds and other institutional investors have recently made changes to their positions in BPOP. Norges Bank acquired a new stake in shares of Popular in the second quarter worth $93,578,000. AQR Capital Management LLC increased its stake in shares of Popular by 52.8% in the first quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank's stock worth $129,722,000 after acquiring an additional 495,325 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Popular by 9,769.4% in the second quarter. Panagora Asset Management Inc. now owns 268,448 shares of the bank's stock worth $29,586,000 after acquiring an additional 265,728 shares during the period. SG Americas Securities LLC increased its stake in shares of Popular by 363.4% in the second quarter. SG Americas Securities LLC now owns 228,028 shares of the bank's stock worth $25,131,000 after acquiring an additional 178,820 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Popular by 32.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock worth $68,041,000 after acquiring an additional 175,327 shares during the period. Institutional investors and hedge funds own 87.27% of the company's stock.
About Popular
(
Get Free Report)
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.
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