Popular, Inc. (NASDAQ:BPOP) Stock Has Consensus Target Price of $187.42 According to Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have earned an average rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $187.42.

BPOP has been the topic of a number of recent analyst reports. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 8th. Wells Fargo & Company cut their target price on Popular from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Barclays raised their target price on Popular from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, October 5th. Benchmark raised their target price on Popular from $214.00 to $216.00 and gave the company a “buy” rating in a report on Monday, August 31st. Finally, Keefe, Bruyette & Woods lifted their price target on Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research note on Friday, July 24th.

Insider Buying and Selling at Popular

In other Popular news, EVP Luis E. Cestero sold 8,500 shares of Popular stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $176.36, for a total value of $1,499,060.00. Following the transaction, the executive vice president owned 16,013 shares in the company, valued at $2,824,052.68. The trade was a 34.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lidio Soriano sold 3,000 shares of Popular stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $174.50, for a total value of $523,500.00. Following the completion of the transaction, the executive vice president owned 107,320 shares in the company, valued at approximately $18,727,340. This represents a 2.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 53,561 shares of company stock worth $9,392,259 over the last quarter. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in Popular by 102.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,853 shares of the bank’s stock valued at $290,000 after acquiring an additional 937 shares during the period. USA Financial Formulas acquired a new position in shares of Popular during the third quarter worth $184,000. State of Alaska Department of Revenue acquired a new position in shares of Popular during the third quarter worth $233,000. Curated Wealth Partners LLC acquired a new position in shares of Popular during the third quarter worth $210,000. Finally, Copeland Capital Management LLC lifted its holdings in shares of Popular by 64.5% during the third quarter. Copeland Capital Management LLC now owns 152,222 shares of the bank’s stock worth $23,663,000 after purchasing an additional 59,686 shares during the period. Institutional investors own 87.27% of the company’s stock.

Popular Stock Up 1.5%

BPOP stock opened at $160.85 on Wednesday. Popular has a 12 month low of $108.74 and a 12 month high of $179.24. The firm has a market cap of $10.26 billion, a P/E ratio of 10.87, a P/E/G ratio of 0.59 and a beta of 0.63. The company’s 50-day moving average price is $164.17 and its two-hundred day moving average price is $160.06.

Popular (NASDAQ:BPOP) last issued its earnings results on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, beating the consensus estimate of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.34%. The company had revenue of $846.92 million during the quarter, compared to analysts’ expectations of $878.41 million. During the same period in the previous year, the company earned $3.09 EPS. Equities analysts predict that Popular will post 15.70 EPS for the current year.

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, September 10th. This represents a $3.60 annualized dividend and a dividend yield of 2.2%. This is an increase from Popular’s previous quarterly dividend of $0.75. Popular’s dividend payout ratio is currently 24.32%.

About Popular

Popular, Inc (NASDAQ: BPOP) is a financial services company headquartered in San Juan, Puerto Rico. Its principal subsidiary, Banco Popular de Puerto Rico, provides banking services to individuals, businesses and institutions, including deposit accounts, consumer and commercial loans, residential mortgages, credit cards and electronic banking services.

The company also offers investment, brokerage, insurance and wealth management services through specialized subsidiaries and affiliated businesses.