Popular, Inc. (NASDAQ:BPOP) Receives $112.25 Consensus Price Target from Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $112.25.

A number of research analysts have recently commented on the stock. UBS Group began coverage on shares of Popular in a report on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 target price for the company. Barclays raised their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada upped their price target on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, StockNews.com raised Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th.

Popular Price Performance

Shares of NASDAQ:BPOP opened at $100.69 on Friday. Popular has a 1 year low of $80.60 and a 1 year high of $106.81. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.75 and a beta of 0.82. The company’s 50 day simple moving average is $98.61 and its 200 day simple moving average is $97.83.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. As a group, analysts anticipate that Popular will post 10.06 EPS for the current fiscal year.

Insider Activity

In related news, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction on 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 transaction, the executive vice president now owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now directly owns 39,170 shares in the company, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

Several large investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new stake in shares of Popular during the 4th quarter worth approximately $27,000. Financial Management Professionals Inc. acquired a new stake in Popular in the third quarter worth $29,000. Picton Mahoney Asset Management grew its holdings in Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares during the period. Capital Performance Advisors LLP bought a new stake in Popular in the third quarter valued at $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of Popular during the third quarter valued at about $47,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

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.