Popular, Inc., through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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. It also offers commercial and industrial, commercial multi-family, commercial real estate, and residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases. In addition, the company provides investment banking, auto and equipment leasing and financing, broker-dealer, and insurance services; debit cards; and online banking services. As of December 31, 2021, it operated 169 branches; and 616 ATMs in Puerto Rico, 23 ATMs in the Virgin Islands, and 91 ATMs in the United States Mainland. Popular, Inc. was founded in 1893 and is headquartered in Hato Rey, Puerto Rico.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. StockNews.com upgraded shares of Popular from a "hold" rating to a "buy" rating in a report on Thursday, August 4th. Piper Sandler dropped their price objective on shares of Popular to $100.00 in a report on Monday, July 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $109.60.
Popular Price Performance
NASDAQ:BPOP traded down $0.18 during trading hours on Monday, reaching $81.23. 740,389 shares of the stock were exchanged, compared to its average volume of 640,473. The stock has a market cap of $6.09 billion, a PE ratio of 7.30 and a beta of 0.91. Popular has a twelve month low of $70.00 and a twelve month high of $99.49. The firm has a 50 day moving average of $78.04 and a 200 day moving average of $81.65.
Popular (NASDAQ:BPOP - Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The bank reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.25. The business had revenue of $681.90 million for the quarter, compared to analyst estimates of $656.27 million. Popular had a net margin of 31.09% and a return on equity of 16.82%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.66 earnings per share. Equities research analysts anticipate that Popular will post 10.68 earnings per share for the current year.
Insiders Place Their Bets
In other news, EVP Beatriz Castellvi sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $80.08, for a total value of $160,160.00. Following the completion of the transaction, the executive vice president now owns 19,372 shares in the company, valued at approximately $1,551,309.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.88% of the company's stock.