Popular, Inc. (NASDAQ:BPOP) Receives $104.88 Consensus PT from Brokerages

Shares of Popular, Inc. (NASDAQ:BPOP - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $104.88.

A number of research analysts recently weighed in on BPOP shares. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $120.00 price objective (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Hovde Group lifted their price target on Popular from $113.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Barclays reduced their price objective on Popular from $117.00 to $104.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Piper Sandler dropped their target price on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price target on shares of Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th.

Popular Stock Up 1.7 %

Popular stock traded up $1.64 during mid-day trading on Wednesday, reaching $98.34. 659,175 shares of the company's stock were exchanged, compared to its average volume of 424,267. The business's fifty day simple moving average is $96.60 and its 200 day simple moving average is $93.87. The firm has a market capitalization of $7.11 billion, a PE ratio of 13.36, a P/E/G ratio of 0.76 and a beta of 0.79. Popular has a one year low of $69.24 and a one year high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.33 by ($0.17). The firm had revenue of $736.56 million during the quarter, compared to analysts' expectations of $766.62 million. Popular had a return on equity of 11.65% and a net margin of 12.36%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. On average, sell-side analysts forecast that Popular will post 8.46 earnings per share for the current year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Friday, September 13th. Popular's dividend payout ratio is 33.70%.

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the sale, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the transaction, the vice president now owns 3,332 shares of the company's stock, valued at approximately $325,569.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Camille Burckhart sold 5,917 shares of the firm's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now directly owns 29,922 shares of the company's stock, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,242 shares of company stock valued at $1,102,880 over the last three months. 2.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Popular

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPOP. Massachusetts Financial Services Co. MA lifted its position in Popular by 52.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank's stock valued at $73,867,000 after buying an additional 286,450 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Popular by 235.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank's stock worth $33,299,000 after purchasing an additional 233,119 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Popular in the 1st quarter worth about $19,997,000. AQR Capital Management LLC raised its position in shares of Popular by 23.6% in the 2nd 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 during the last quarter. Finally, 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 purchasing an additional 113,838 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.

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.