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

Popular, Inc. (NASDAQ:BPOP) has earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $130.1250.

BPOP has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Popular in a research report on Thursday, July 24th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Barclays lifted their target price on shares of Popular from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $125.00 to $132.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Finally, UBS Group restated a “neutral” rating on shares of Popular in a research report on Wednesday, July 9th.

Insider Activity

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total value of $2,240,584.47. Following the transaction, the executive vice president owned 24,773 shares in the company, valued at approximately $3,083,495.31. The trade was a 42.08% 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. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Popular during the second quarter valued at about $93,578,000. AQR Capital Management LLC increased its position in shares of Popular by 52.8% during the first quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank’s stock valued at $129,722,000 after buying an additional 495,325 shares during the period. Panagora Asset Management Inc. increased its position in shares of Popular by 9,769.4% during the second quarter. Panagora Asset Management Inc. now owns 268,448 shares of the bank’s stock valued at $29,586,000 after buying an additional 265,728 shares during the period. SG Americas Securities LLC increased its position in shares of Popular by 363.4% during the second quarter. SG Americas Securities LLC now owns 228,028 shares of the bank’s stock valued at $25,131,000 after buying an additional 178,820 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Popular by 135.7% during the second quarter. Mackenzie Financial Corp now owns 258,265 shares of the bank’s stock worth $28,463,000 after acquiring an additional 148,682 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Stock Performance

NASDAQ BPOP opened at $125.93 on Friday. The company has a market capitalization of $8.51 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.64 and a beta of 0.68. The company has a fifty day moving average of $121.98 and a 200-day moving average of $108.14. Popular has a 52-week low of $78.23 and a 52-week high of $129.32.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.49. The company had revenue of $800.03 million for the quarter, compared to analysts’ expectations of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same quarter last year, the company earned $2.46 EPS. As a group, analysts forecast that Popular will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.1328 dividend. Popular’s payout ratio is 29.07%.

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.