Popular (NASDAQ:BPOP) Reaches New 52-Week High – Still a Buy?

Popular, Inc. (NASDAQ:BPOP)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $106.58 and last traded at $106.54, with a volume of 129095 shares trading hands. The stock had previously closed at $104.41.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler reduced their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Barclays increased their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.25.

Popular Trading Up 1.8 %

The company’s 50 day moving average is $98.03 and its 200 day moving average is $97.55. The company has a market cap of $7.58 billion, a PE ratio of 12.42, a P/E/G ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the sale, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Institutional Trading of Popular

A number of institutional investors have recently modified their holdings of the company. GTS Securities LLC bought a new stake in shares of Popular in the 4th quarter valued at about $309,000. Vise Technologies Inc. bought a new stake in shares of Popular in the 4th quarter valued at about $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 in the last quarter. Voloridge Investment Management LLC acquired a new stake in Popular in the 4th quarter worth approximately $11,305,000. Finally, Two Sigma Advisers LP boosted its stake in Popular by 46.1% in the 4th quarter. Two Sigma Advisers LP now owns 98,500 shares of the bank’s stock worth $9,265,000 after purchasing an additional 31,100 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

About Popular

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.