Popular, Inc. (NASDAQ:BPOP) Receives $133.78 Consensus PT from Brokerages

Popular, Inc. (NASDAQ:BPOP) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $137.00.

BPOP has been the subject of a number of research analyst reports. Piper Sandler began coverage on shares of Popular in a report on Thursday. They set an “overweight” rating and a $152.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Zacks Research cut Popular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Barclays reiterated an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. Finally, Truist Financial began coverage on Popular in a research report on Thursday, October 9th. They issued a “buy” rating and a $153.00 target price for the company.

Insider Buying and Selling at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,000 shares of the 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 transaction, the vice president owned 2,604 shares of the company’s stock, valued at approximately $299,043.36. This trade represents a 27.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Carrion sold 25,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the completion of the sale, the director directly owned 193,020 shares of the company’s stock, valued at $21,907,770. This represents a 11.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Popular

Several institutional investors have recently bought and sold shares of BPOP. Ethic Inc. bought a new stake in Popular during the 3rd quarter valued at approximately $653,000. Brendel Financial Advisors LLC purchased a new position in shares of Popular in the 3rd quarter valued at approximately $2,660,000. Burney Co. boosted its position in shares of Popular by 134.3% during the third quarter. Burney Co. now owns 48,557 shares of the bank’s stock valued at $6,167,000 after purchasing an additional 27,837 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Popular by 47.3% during the second quarter. Acadian Asset Management LLC now owns 188,960 shares of the bank’s stock valued at $20,818,000 after purchasing an additional 60,701 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in Popular by 40.8% in the third quarter. Ritholtz Wealth Management now owns 41,270 shares of the bank’s stock worth $5,242,000 after purchasing an additional 11,957 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Trading Down 0.6%

Shares of NASDAQ BPOP opened at $128.09 on Monday. The business has a 50-day moving average of $120.86 and a 200-day moving average of $119.72. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.54 and a beta of 0.63. Popular has a 12 month low of $78.23 and a 12 month high of $131.10.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.10. Popular had a net margin of 17.63% and a return on equity of 13.27%. The business had revenue of $720.83 million during the quarter, compared to analyst estimates of $803.95 million. During the same period in the previous year, the business posted $2.16 earnings per share. Popular’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts predict that Popular will post 10.06 earnings per share for the current year.

Popular Announces Dividend

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

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.