Popular, Inc. (NASDAQ:BPOP) Receives $110.38 Average Price Target from Analysts

Popular, Inc. (NASDAQ:BPOP) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $110.38.

Several research analysts have weighed in on BPOP shares. Barclays increased their price objective on Popular from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company cut shares of Popular from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $115.00 to $105.00 in a research note on Tuesday, October 1st. Hovde Group increased their target price on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler started coverage on shares of Popular in a research report on Monday, August 26th. They issued an “overweight” rating and a $112.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th.

Popular Price Performance

Shares of Popular stock opened at $98.09 on Friday. Popular has a 1 year low of $59.27 and a 1 year high of $105.01. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 0.66 and a beta of 0.78. The business has a fifty day simple moving average of $98.75 and a two-hundred day simple moving average of $92.99.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.38. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same period last year, the business posted $2.10 earnings per share. As a group, equities analysts anticipate that Popular will post 8.74 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.62 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.53%. Popular’s dividend payout ratio (DPR) is currently 36.80%.

Insider Activity

In related news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Popular

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in shares of Popular during the fourth quarter worth about $289,000. CWM LLC grew its holdings in Popular by 164.8% during the 1st quarter. CWM LLC now owns 1,769 shares of the bank’s stock worth $156,000 after acquiring an additional 1,101 shares during the last quarter. Wedmont Private Capital increased its position in Popular by 6.7% in the 1st quarter. Wedmont Private Capital now owns 2,729 shares of the bank’s stock valued at $237,000 after acquiring an additional 171 shares during the period. Allspring Global Investments Holdings LLC increased its position in Popular by 661.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,795 shares of the bank’s stock valued at $951,000 after acquiring an additional 9,377 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Popular by 57.2% during the first quarter. Principal Financial Group Inc. now owns 1,008,732 shares of the bank’s stock valued at $88,859,000 after acquiring an additional 366,870 shares during the last quarter. 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.