Popular (NASDAQ:BPOP) Hits New 1-Year High – What’s Next?

Popular, Inc. (NASDAQ:BPOP)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $129.34 and last traded at $129.54, with a volume of 121979 shares. The stock had previously closed at $125.96.

Analysts Set New Price Targets

Several equities analysts have weighed in on BPOP shares. Zacks Research lowered Popular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Citigroup boosted their price objective on Popular from $142.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. UBS Group reduced their target price on shares of Popular from $135.00 to $127.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Barclays restated an “overweight” rating on shares of Popular in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on shares of Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and an average price target of $133.78.

Popular Trading Up 2.2%

The company’s fifty day simple moving average is $117.69 and its 200 day simple moving average is $118.38. The stock has a market capitalization of $8.58 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.48 and a beta of 0.63.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.10. The company had revenue of $720.83 million for the quarter, compared to the consensus estimate of $803.95 million. Popular had a return on equity of 13.27% and a net margin of 17.63%.The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 earnings per share. Equities research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, December 5th. Popular’s dividend payout ratio is 26.55%.

Insider Buying and Selling

In other news, Director Richard L. Carrion sold 25,000 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total value of $2,837,500.00. Following the transaction, the director owned 193,020 shares of the company’s stock, valued at $21,907,770. This represents a 11.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $114.84, for a total transaction of $114,840.00. Following the sale, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. This trade represents a 27.75% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.23% of the company’s stock.

Hedge Funds Weigh In On Popular

A number of hedge funds and other institutional investors have recently modified their holdings of BPOP. Advisory Services Network LLC bought a new stake in Popular in the 3rd quarter worth approximately $31,000. True Wealth Design LLC raised its stake in shares of Popular by 262.9% during the third quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock worth $45,000 after acquiring an additional 255 shares in the last quarter. Steph & Co. bought a new stake in shares of Popular in the 2nd quarter worth approximately $39,000. Allworth Financial LP lifted its holdings in shares of Popular by 2,158.8% in the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after acquiring an additional 367 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

About Popular

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.