Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $128.70 and last traded at $127.66, with a volume of 94646 shares changing hands. The stock had previously closed at $127.82.
Analyst Ratings Changes
A number of brokerages have recently issued reports on BPOP. Zacks Research raised shares of Popular from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Wells Fargo & Company upped their target price on shares of Popular from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Monday. Hovde Group reaffirmed an "outperform" rating on shares of Popular in a report on Friday, August 29th. Barclays upped their target price on shares of Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Citigroup upped their target price on shares of Popular from $133.00 to $142.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $130.13.
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Popular Trading Up 0.3%
The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.66 and a beta of 0.68. The stock's 50 day moving average is $119.80 and its 200 day moving average is $106.02.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The business had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same quarter in the prior year, the business earned $2.46 EPS. On average, equities research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.
Popular Dividend Announcement
The firm also recently announced a sep 25 dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.1328 per share. Popular's payout ratio is presently 29.07%.
Insider Activity
In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the transaction, the executive vice president owned 24,773 shares in the company, valued at $3,083,495.31. This represents a 42.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.23% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Steph & Co. acquired a new position in shares of Popular during the 2nd quarter worth approximately $39,000. Allworth Financial LP grew its position in shares of Popular by 2,158.8% during the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank's stock worth $42,000 after purchasing an additional 367 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Popular by 112.2% during the 2nd 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 bought a new stake in shares of Popular during the 1st quarter worth approximately $47,000. Finally, IFP Advisors Inc boosted its position in shares of Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank's stock worth $53,000 after acquiring an additional 471 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.
Popular Company Profile
(
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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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