Popular, Inc. (NASDAQ:BPOP) Receives $110.38 Average Price Target from Brokerages

Shares of Popular, Inc. (NASDAQ:BPOP) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $104.88.

A number of equities research analysts recently commented on BPOP shares. Piper Sandler lowered their price target on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 target price (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Barclays reduced their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday. Hovde Group lifted their target price on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company reduced their target price on Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday.

Insider Transactions at Popular

In related news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in Popular by 3.6% in the 1st quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock worth $25,924,000 after purchasing an additional 10,308 shares during the period. Sei Investments Co. grew its stake in Popular by 2.2% during the first quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock valued at $24,898,000 after acquiring an additional 6,067 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Popular by 249.1% during the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock valued at $2,904,000 after acquiring an additional 23,436 shares in the last quarter. Algert Global LLC increased its holdings in Popular by 10.4% during the 2nd quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after acquiring an additional 8,317 shares during the period. Finally, LSV Asset Management lifted its stake in Popular by 1.4% in the 1st quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock worth $62,402,000 after purchasing an additional 9,985 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Trading Down 0.6 %

Popular stock opened at $88.46 on Friday. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. The firm’s fifty day moving average price is $98.34 and its two-hundred day moving average price is $93.06. Popular has a 1-year low of $61.99 and a 1-year high of $105.01.

Popular (NASDAQ:BPOP) last released its quarterly 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 company had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. Popular’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 EPS. On average, research analysts forecast that Popular will post 8.74 EPS for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.80%. Popular’s dividend payout ratio is presently 36.80%.

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.