Popular, Inc. (NASDAQ:BPOP) Receives $113.00 Average PT from Brokerages

Popular, Inc. (NASDAQ:BPOP - Get Free Report) has earned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $113.00.

BPOP has been the topic of a number of research reports. Barclays increased their price objective on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. UBS Group initiated coverage on shares of Popular in a research note on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. StockNews.com upgraded shares of Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their target price on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th.

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Insider Buying and Selling

In related news, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares of the company's stock, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the company'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 transaction, the executive vice president now owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Popular

Institutional investors have recently added to or reduced their stakes in the company. TCW Group Inc. lifted its position in shares of Popular by 15.2% in the 3rd quarter. TCW Group Inc. now owns 94,815 shares of the bank's stock worth $9,507,000 after acquiring an additional 12,494 shares during the period. Principal Financial Group Inc. lifted its position in Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock worth $105,769,000 after purchasing an additional 71,782 shares during the period. Thrivent Financial for Lutherans boosted its stake in Popular by 284.9% during the third quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank's stock worth $7,260,000 after buying an additional 53,590 shares in the last quarter. Cerity Partners LLC boosted its stake in Popular by 83.9% during the third quarter. Cerity Partners LLC now owns 9,546 shares of the bank's stock worth $957,000 after buying an additional 4,354 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Up 1.3 %

Shares of Popular stock traded up $1.15 on Tuesday, hitting $91.37. 2,671,888 shares of the company traded hands, compared to its average volume of 439,958. Popular has a 12-month low of $80.60 and a 12-month high of $106.81. The company has a market cap of $6.36 billion, a PE ratio of 10.67, a PEG ratio of 0.75 and a beta of 0.77. The company has a 50-day moving average price of $98.50 and a 200 day moving average price of $97.23.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. Equities research analysts anticipate that Popular will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.06%. Popular's payout ratio is presently 32.71%.

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.