Popular, Inc. (NASDAQ:BPOP) Receives $108.25 Consensus Target Price from Analysts

Popular, Inc. (NASDAQ:BPOP - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $108.25.

Several analysts have recently issued reports on the company. Royal Bank of Canada reduced their target price on Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Barclays increased their price objective on shares of Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Wells Fargo & Company boosted their target price on shares of Popular from $90.00 to $105.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Piper Sandler reduced their price target on shares of Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, UBS Group assumed coverage on shares of Popular in a research report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price objective for the company.

Insider Buying and Selling

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at approximately $2,490,403.40. This trade represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Popular

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in Popular by 0.5% during the third quarter. State Street Corp now owns 2,056,377 shares of the bank's stock worth $207,475,000 after buying an additional 10,599 shares during the last quarter. American Century Companies Inc. raised its position in shares of Popular by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank's stock worth $107,781,000 after acquiring an additional 113,838 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after purchasing an additional 71,782 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Popular by 8.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank's stock valued at $90,537,000 after purchasing an additional 67,620 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Popular by 23.6% in the second quarter. AQR Capital Management LLC now owns 859,794 shares of the bank's stock worth $75,129,000 after purchasing an additional 164,270 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

Popular Trading Down 1.4 %

Shares of NASDAQ:BPOP traded down $1.31 on Thursday, hitting $92.75. The company had a trading volume of 364,659 shares, compared to its average volume of 433,047. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.76 and a beta of 0.81. The stock has a 50 day moving average price of $95.40 and a 200 day moving average price of $95.88. Popular has a 1-year low of $79.01 and a 1-year high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing analysts' consensus estimates of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. During the same period in the prior year, the company earned $1.90 earnings per share. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Popular will post 8.46 earnings per share for the current fiscal year.

Popular Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Popular's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 6th. Popular's dividend payout ratio is presently 38.04%.

Popular Company Profile

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.