Brokerages Set Popular, Inc. (NASDAQ:BPOP) Target Price at $114.43

Popular, Inc. (NASDAQ:BPOP) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $114.43.

BPOP has been the subject of several research analyst reports. Hovde Group reduced their target price on Popular from $118.00 to $114.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods boosted their price target on Popular from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wall Street Zen downgraded Popular from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Piper Sandler boosted their price target on Popular from $110.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company upgraded Popular from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $103.82 on Friday. Popular has a twelve month low of $78.23 and a twelve month high of $106.81. The firm has a market cap of $7.11 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The business has a fifty day moving average of $95.31 and a 200-day moving average of $96.53.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm had revenue of $755.46 million for the quarter, compared to analysts’ expectations of $760.45 million. During the same quarter last year, the business earned $1.43 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that Popular will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, May 29th. Popular’s dividend payout ratio (DPR) is presently 28.90%.

Insiders Place Their Bets

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president now owns 3,604 shares of the company’s stock, valued at approximately $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the sale, the executive vice president now directly owns 27,382 shares of the company’s stock, valued at $2,851,561.48. The trade was a 20.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Large investors have recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Popular in the fourth quarter valued at about $27,000. Picton Mahoney Asset Management grew its stake 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Popular in the first quarter worth approximately $47,000. Smartleaf Asset Management LLC grew its stake 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 in the last quarter. Finally, Versant Capital Management Inc boosted its position in Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock valued at $76,000 after acquiring an additional 702 shares in the last quarter. Institutional investors 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.