Popular, Inc. (NASDAQ:BPOP) Receives $106.00 Consensus PT from Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $106.22.

Several analysts have weighed in on the company. Piper Sandler assumed coverage on Popular in a report on Monday, August 26th. They set an “overweight” rating and a $112.00 price objective for the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price target (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Hovde Group raised their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays lifted their target price on shares of Popular from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada increased their price target on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the 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 completion of the sale, the executive vice president now directly owns 29,922 shares in the company, valued at $2,920,387.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

Several large investors have recently made changes to their positions in BPOP. Headlands Technologies LLC acquired a new position in Popular in the 1st quarter worth $42,000. Mather Group LLC. acquired a new position in shares of Popular during the second quarter worth about $44,000. Meeder Asset Management Inc. bought a new position in shares of Popular during the second quarter worth about $48,000. GAMMA Investing LLC raised its position in Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after buying an additional 181 shares during the last quarter. Finally, Clear Street Markets LLC bought a new stake in Popular in the 4th quarter valued at approximately $139,000. Institutional investors own 87.27% of the company’s stock.

Popular Price Performance

BPOP stock opened at $98.58 on Tuesday. The company has a 50 day moving average price of $98.84 and a 200 day moving average price of $91.42. Popular has a fifty-two week low of $59.27 and a fifty-two week high of $105.01. The stock has a market capitalization of $7.12 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. Popular had a return on equity of 11.73% and a net margin of 12.20%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. During the same quarter in the previous year, the company posted $2.10 earnings per share. As a group, equities analysts expect that Popular will post 8.86 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.52%. The ex-dividend date is Friday, September 13th. Popular’s 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.