Popular, Inc. (NASDAQ:BPOP) Receives $104.88 Consensus Target Price from Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $104.88.

Several research analysts recently weighed in on the stock. Piper Sandler dropped their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays dropped their price objective on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company decreased their target price on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Hovde Group upped their price target on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lowered their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th.

Popular Stock Down 0.2 %

Shares of BPOP opened at $96.09 on Wednesday. The business has a 50-day simple moving average of $96.54 and a two-hundred day simple moving average of $93.92. Popular has a 52 week low of $71.08 and a 52 week high of $105.01. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.77 and a beta of 0.79.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). The firm had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. Popular had a return on equity of 11.65% and a net margin of 12.36%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 earnings per share. On average, equities analysts anticipate that Popular will post 8.46 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 2.58%. Popular’s dividend payout ratio (DPR) is currently 33.70%.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The trade was a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares in the company, valued at approximately $2,490,403.40. This represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,242 shares of company stock valued at $1,102,880 in the last three months. Corporate insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BPOP. Financial Management Professionals Inc. bought a new stake in shares of Popular during the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of Popular during the third quarter worth $35,000. Headlands Technologies LLC purchased a new stake in shares of Popular during the first quarter valued at $42,000. Mather Group LLC. purchased a new stake in shares of Popular during the second quarter valued at $44,000. Finally, Brooklyn Investment Group purchased a new position in Popular in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.