Brokerages Set Popular, Inc. (NASDAQ:BPOP) Target Price at $65.83


Share on StockTwits

Shares of Popular, Inc. (NASDAQ:BPOP) have been given an average rating of “Buy” by the seven ratings firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $65.83.

Several equities research analysts have recently commented on BPOP shares. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Friday, April 2nd. Royal Bank of Canada raised their price target on Popular from $48.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, January 29th. Finally, UBS Group upgraded Popular from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.00 to $79.00 in a research report on Friday, January 8th.

Shares of Popular stock traded up $0.08 during midday trading on Friday, hitting $71.21. 4,830 shares of the company were exchanged, compared to its average volume of 572,774. The firm has a market cap of $6.01 billion, a P/E ratio of 12.75 and a beta of 1.24. Popular has a 52 week low of $31.33 and a 52 week high of $75.16. The firm has a 50 day simple moving average of $69.50 and a 200-day simple moving average of $55.24.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, January 28th. The bank reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.38. The business had revenue of $616.46 million during the quarter, compared to the consensus estimate of $622.98 million. Popular had a return on equity of 8.51% and a net margin of 18.66%. During the same quarter last year, the company earned $1.72 EPS. As a group, sell-side analysts anticipate that Popular will post 5.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Thursday, March 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Wednesday, March 17th. Popular’s payout ratio is 23.26%.

In other news, EVP Luis E. Cestero sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $67.78, for a total value of $115,226.00. Also, EVP Juan Guerrero sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $62.16, for a total value of $435,120.00. Insiders sold 15,700 shares of company stock worth $1,006,046 in the last ninety days. 1.47% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. CI Investments Inc. boosted its stake in shares of Popular by 40.0% in the fourth quarter. CI Investments Inc. now owns 935 shares of the bank’s stock valued at $53,000 after buying an additional 267 shares during the period. Toronto Dominion Bank bought a new stake in shares of Popular in the fourth quarter valued at approximately $125,000. Sowell Financial Services LLC boosted its stake in shares of Popular by 348.2% in the fourth quarter. Sowell Financial Services LLC now owns 2,667 shares of the bank’s stock valued at $150,000 after buying an additional 2,072 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Popular in the third quarter valued at approximately $197,000. Finally, Cetera Advisor Networks LLC bought a new stake in shares of Popular in the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 81.63% 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 and the United States. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.

Further Reading: What is the QQQ ETF?

Analyst Recommendations for Popular (NASDAQ:BPOP)

Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.