Popular (NASDAQ:BPOP) Price Target Raised to $193.00

Popular (NASDAQ:BPOP) had its price objective increased by Citigroup from $192.00 to $193.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other analysts also recently commented on the company. Benchmark raised their target price on Popular from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Zacks Research lowered Popular from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 8th. Barclays upped their price target on Popular from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, October 5th. Royal Bank Of Canada increased their price target on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Popular in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Popular has a consensus rating of “Buy” and a consensus target price of $186.83.

Popular Trading Down 0.8%

NASDAQ:BPOP opened at $157.88 on Monday. Popular has a 12 month low of $108.74 and a 12 month high of $179.24. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.59 and a beta of 0.63. The firm has a fifty day simple moving average of $162.21 and a two-hundred day simple moving average of $152.86.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, October 22nd. The bank reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.26. Popular had a net margin of 22.36% and a return on equity of 16.08%. The firm had revenue of $874.59 million for the quarter, compared to analyst estimates of $904.43 million. During the same quarter in the prior year, the business earned $3.14 earnings per share. Equities analysts predict that Popular will post 15.85 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, November 13th. This represents a $3.60 annualized dividend and a yield of 2.3%. Popular’s dividend payout ratio is presently 22.68%.

Insider Buying and Selling at Popular

In other Popular news, CEO Javier Ferrer sold 35,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $175.43, for a total value of $6,140,050.00. Following the transaction, the chief executive officer directly owned 96,478 shares of the company’s stock, valued at approximately $16,925,135.54. This trade represents a 26.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lidio Soriano sold 3,000 shares of Popular stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $174.50, for a total transaction of $523,500.00. Following the transaction, the executive vice president owned 107,320 shares of the company’s stock, valued at $18,727,340. This represents a 2.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 47,100 shares of company stock valued at $8,263,884 over the last ninety days. 2.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Popular

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Popular by 1.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,004,676 shares of the bank’s stock valued at $164,948,000 after purchasing an additional 18,647 shares during the last quarter. Sei Investments Co. increased its holdings in Popular by 24.9% during the 1st quarter. Sei Investments Co. now owns 556,630 shares of the bank’s stock worth $74,684,000 after purchasing an additional 110,887 shares in the last quarter. Bank of America Corp DE increased its holdings in Popular by 8.2% during the 1st quarter. Bank of America Corp DE now owns 465,720 shares of the bank’s stock worth $62,486,000 after purchasing an additional 35,226 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Popular in the second quarter worth approximately $54,916,000. Finally, Quantinno Capital Management LP raised its stake in shares of Popular by 100.9% in the first quarter. Quantinno Capital Management LP now owns 272,800 shares of the bank’s stock worth $36,602,000 after purchasing an additional 136,984 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Company Profile

Popular, Inc (NASDAQ: BPOP) is a financial services company headquartered in San Juan, Puerto Rico. Its principal subsidiary, Banco Popular de Puerto Rico, provides banking services to individuals, businesses and institutions, including deposit accounts, consumer and commercial loans, residential mortgages, credit cards and electronic banking services.

The company also offers investment, brokerage, insurance and wealth management services through specialized subsidiaries and affiliated businesses.