Popular, Inc. (NASDAQ:BPOP) Receives $133.78 Consensus Target Price from Analysts

Popular, Inc. (NASDAQ:BPOP) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $133.7778.

BPOP has been the topic of a number of research reports. Truist Financial assumed coverage on shares of Popular in a research note on Thursday, October 9th. They issued a “buy” rating and a $153.00 price target on the stock. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Barclays reaffirmed an “overweight” rating on shares of Popular in a research note on Wednesday, October 8th. UBS Group reissued a “neutral” rating on shares of Popular in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Popular in a report on Wednesday, October 8th.

Popular Price Performance

Shares of Popular stock opened at $126.21 on Monday. Popular has a 1 year low of $78.23 and a 1 year high of $131.10. The business has a 50-day moving average of $120.27 and a two-hundred day moving average of $119.44. The company has a market capitalization of $8.42 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.52 and a beta of 0.63.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.10. Popular had a return on equity of 13.27% and a net margin of 17.63%.The business had revenue of $720.83 million for the quarter, compared to analysts’ expectations of $803.95 million. During the same quarter in the previous year, the business posted $2.16 EPS. Popular’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that Popular will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, December 5th. Popular’s dividend payout ratio (DPR) is currently 26.55%.

Insider Buying and Selling

In other news, Director Richard L. Carrion sold 25,000 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the completion of the transaction, the director directly owned 193,020 shares in the company, valued at $21,907,770. This represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of Popular stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $114.84, for a total value of $114,840.00. Following the completion of the sale, the vice president directly owned 2,604 shares in the company, valued at approximately $299,043.36. This represents a 27.75% decrease in their position. The SEC filing for this sale provides additional information. 2.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in shares of Popular during the 3rd quarter worth approximately $31,000. Steph & Co. bought a new stake in Popular during the second quarter worth $39,000. Allworth Financial LP raised its position in Popular by 2,158.8% during the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after acquiring an additional 367 shares in the last quarter. True Wealth Design LLC lifted its stake in Popular by 262.9% in the third quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after acquiring an additional 255 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock valued at $46,000 after acquiring an additional 221 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.