Popular, Inc. (NASDAQ:BPOP - Get Free Report)'s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $102.46, but opened at $105.70. Popular shares last traded at $104.23, with a volume of 37,097 shares traded.
The bank reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.35% and a net margin of 12.36%.
Popular Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Popular's previous quarterly dividend of $0.62. The ex-dividend date was Friday, December 6th. Popular's dividend payout ratio is presently 38.04%.
Analyst Upgrades and Downgrades
BPOP has been the subject of a number of research analyst reports. Barclays upped 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. Keefe, Bruyette & Woods increased their price target on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler lowered their price target on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. StockNews.com upgraded Popular from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $112.25.
Check Out Our Latest Report on Popular
Insider Buying and Selling at Popular
In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares of the company's stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm's stock in a transaction dated 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 directly owns 3,332 shares in the company, valued at $325,569.72. This represents a 35.39 % 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
A number of large investors have recently bought and sold shares of BPOP. Financial Management Professionals Inc. acquired a new stake in shares of Popular in the third quarter valued at approximately $29,000. Capital Performance Advisors LLP acquired a new stake in shares of Popular in the third quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new stake in shares of Popular in the third quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Popular in the third quarter valued at approximately $81,000. Finally, R Squared Ltd acquired a new stake in shares of Popular in the fourth quarter valued at approximately $166,000. Institutional investors own 87.27% of the company's stock.
Popular Stock Down 0.2 %
The company has a market cap of $7.38 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 0.65 and a beta of 0.81. The firm's 50 day simple moving average is $97.17 and its 200 day simple moving average is $97.39.
About Popular
(
Get Free Report)
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.
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