Popular, Inc. (NASDAQ:BPOP - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $112.25.
BPOP has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised their price target on shares of Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Popular from $105.00 to $110.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. StockNews.com upgraded Popular from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Finally, UBS Group started coverage on Popular in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price target for the company.
Check Out Our Latest Research Report on BPOP
Insider Transactions at Popular
In other news, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the sale, the executive vice president now owns 32,866 shares of the company's stock, valued at $3,418,721.32. The trade was a 23.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gilberto Monzon sold 9,600 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.
Institutional Trading of Popular
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Popular by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock worth $873,519,000 after purchasing an additional 56,222 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Popular by 5.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after acquiring an additional 201,067 shares during the period. State Street Corp raised its holdings in Popular by 0.5% during the third quarter. State Street Corp now owns 2,056,377 shares of the bank's stock valued at $207,475,000 after acquiring an additional 10,599 shares during the period. Wellington Management Group LLP lifted its position in shares of Popular by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock valued at $179,505,000 after acquiring an additional 25,222 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Popular by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock worth $133,446,000 after acquiring an additional 515,798 shares during the period. Institutional investors own 87.27% of the company's stock.
Popular Stock Performance
Shares of Popular stock traded down $3.27 during trading on Friday, hitting $100.69. The company's stock had a trading volume of 583,536 shares, compared to its average volume of 463,066. Popular has a 52 week low of $80.60 and a 52 week high of $106.81. The company has a fifty day simple moving average of $98.51 and a two-hundred day simple moving average of $97.73. The company has a market capitalization of $7.18 billion, a PE ratio of 11.76, a P/E/G ratio of 0.76 and a beta of 0.82.
Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, analysts predict that Popular will post 10.06 EPS for the current year.
About Popular
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Get Free ReportPopular, 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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