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

Shares of Popular, Inc. (NASDAQ:BPOP) have received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $113.00.

BPOP has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. UBS Group assumed coverage on shares of Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective on the stock. Barclays increased their target price on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th.

Popular Price Performance

BPOP stock opened at $90.44 on Tuesday. The firm has a market capitalization of $6.30 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.75 and a beta of 0.77. Popular has a 52-week low of $80.60 and a 52-week high of $106.81. The company’s 50 day simple moving average is $98.77 and its 200-day simple moving average is $97.41.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Sell-side analysts predict that Popular will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s payout ratio is presently 32.71%.

Insider Buying and Selling

In related news, EVP Eduardo J. Negron sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares in the company, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Popular

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Popular by 21.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,975 shares of the bank’s stock worth $562,000 after acquiring an additional 1,057 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Popular in the fourth quarter worth about $5,876,000. GTS Securities LLC acquired a new position in shares of Popular during the 4th quarter worth about $309,000. Vise Technologies Inc. bought a new stake in Popular during the 4th quarter valued at approximately $227,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Popular by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 215,936 shares of the bank’s stock valued at $20,311,000 after buying an additional 19,282 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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.