Popular, Inc. (NASDAQ:BPOP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $112.25.

Several brokerages have recently issued reports on BPOP. StockNews.com raised Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Piper Sandler lowered their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays boosted their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. UBS Group began coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th.

Insider Buying and Selling at Popular

In related news, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Popular

Several institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in Popular in the 3rd quarter worth about $29,000. Picton Mahoney Asset Management grew its stake in shares of 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 acquiring an additional 118 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Popular during the third quarter valued at approximately $35,000. Brooklyn Investment Group bought a new position in Popular during the third quarter valued at approximately $47,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Trading Down 1.3 %

Shares of Popular stock opened at $103.96 on Friday. The company’s fifty day simple moving average is $98.51 and its two-hundred day simple moving average is $97.73. Popular has a 12-month low of $80.60 and a 12-month high of $106.81. The company has a market cap of $7.41 billion, a P/E ratio of 12.14, a PEG ratio of 0.76 and a beta of 0.82.

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

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.