Brokerages Set Popular, Inc. (NASDAQ:BPOP) PT at $110.38

Popular, Inc. (NASDAQ:BPOP - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $110.38.

Several research analysts have weighed in on BPOP shares. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $120.00 price target (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Piper Sandler initiated coverage on Popular in a research report on Monday, August 26th. They set an "overweight" rating and a $112.00 price objective on the stock. Royal Bank of Canada raised their price objective on Popular from $90.00 to $108.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Barclays raised their price objective on Popular from $115.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Finally, Hovde Group boosted their price objective on Popular from $113.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th.

Popular Price Performance

BPOP traded down $1.74 on Friday, hitting $100.82. The company had a trading volume of 315,463 shares, compared to its average volume of 400,147. The stock has a fifty day simple moving average of $98.69 and a 200-day simple moving average of $92.80. Popular has a 52-week low of $59.27 and a 52-week high of $105.01. The firm has a market capitalization of $7.29 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.66 and a beta of 0.78.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.38. Popular had a net margin of 12.20% and a return on equity of 11.73%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. During the same period in the previous year, the business earned $2.10 EPS. Equities research analysts expect that Popular will post 8.74 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.62 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.46%. Popular's dividend payout ratio is currently 36.80%.

Insider Buying and Selling at Popular

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares of the company's stock, valued at $2,920,387.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.09% of the company's stock.

Hedge Funds Weigh In On Popular

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its position in Popular by 3.6% during the first quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank's stock worth $25,924,000 after buying an additional 10,308 shares during the last quarter. Sei Investments Co. grew its position in shares of Popular by 2.2% in the first quarter. Sei Investments Co. now owns 282,639 shares of the bank's stock valued at $24,898,000 after purchasing an additional 6,067 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Popular by 249.1% in the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank's stock valued at $2,904,000 after purchasing an additional 23,436 shares during the last quarter. Algert Global LLC grew its position in shares of Popular by 10.4% in the second quarter. Algert Global LLC now owns 88,379 shares of the bank's stock valued at $7,815,000 after purchasing an additional 8,317 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of Popular by 1.4% in the first quarter. LSV Asset Management now owns 708,385 shares of the bank's stock valued at $62,402,000 after purchasing an additional 9,985 shares during the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

About Popular

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.