Popular, Inc. (NASDAQ:BPOP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Popular, Inc. (NASDAQ:BPOP) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $108.25.

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada decreased their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. 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 target price for the company. Finally, Piper Sandler dropped their price target on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th.

Insider Activity at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’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 sale, the vice president now owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the transaction, the executive vice president now directly owns 25,115 shares in the company, valued at $2,490,403.40. The trade was a 12.23 % 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.

Hedge Funds Weigh In On Popular

Several institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. purchased a new stake in Popular during the third quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of Popular during the 3rd quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in shares of Popular in the 3rd quarter worth $47,000. Wilmington Savings Fund Society FSB bought a new position in Popular in the 3rd quarter worth $81,000. Finally, R Squared Ltd purchased a new position in Popular during the fourth quarter valued at $166,000. Institutional investors own 87.27% of the company’s stock.

Popular Stock Performance

BPOP stock opened at $101.58 on Monday. Popular has a fifty-two week low of $80.60 and a fifty-two week high of $105.01. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.65 and a beta of 0.81. The business’s 50 day moving average price is $96.72 and its two-hundred day moving average price is $97.21.

Popular Increases Dividend

The business also recently declared 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 2.76%. The ex-dividend date was Friday, December 6th. This is an increase from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) 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.