Popular, Inc. (NASDAQ:BPOP – Get Free Report) has received an average rating of “Buy” from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $168.7273.
BPOP has been the subject of a number of recent analyst reports. Zacks Research lowered Popular from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. UBS Group increased their price objective on Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Citigroup upped their target price on Popular from $170.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 4th. Finally, Truist Financial upped their target price on Popular from $153.00 to $164.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th.
View Our Latest Stock Report on Popular
Key Stories Impacting Popular
- Positive Sentiment: Options-market activity has picked up around Popular, Inc. (BPOP), suggesting traders may be positioning for a bigger move and increasing near-term interest in the shares. Is the Options Market Predicting a Spike in Popular Stock?
- Positive Sentiment: A separate market article cited two reasons to watch Popular, Inc. (BPOP), which may be helping keep the stock in focus among investors looking for banking-sector opportunities. 2 reasons to watch BPOP and 1 to stay cautious
- Neutral Sentiment: Recent list-style articles about popular small-cap stocks do not appear to be directly about Popular, Inc. (BPOP), so they are unlikely to be a major driver of today’s move.
Insiders Place Their Bets
In other Popular news, Director Alejandro M. Ballester sold 23,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total value of $3,450,000.00. Following the completion of the sale, the director directly owned 34,588 shares in the company, valued at $5,188,200. This represents a 39.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $148.51, for a total value of $920,762.00. Following the completion of the sale, the executive vice president owned 11,255 shares of the company’s stock, valued at $1,671,480.05. This trade represents a 35.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,651 shares of company stock worth $4,575,135 over the last ninety days. Company insiders own 2.13% of the company’s stock.
Institutional Investors Weigh In On Popular
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Popular by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank’s stock worth $1,057,167,000 after acquiring an additional 37,424 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Popular by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,361,681 shares of the bank’s stock valued at $543,117,000 after buying an additional 58,452 shares during the period. AQR Capital Management LLC lifted its stake in shares of Popular by 56.2% in the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after buying an additional 1,065,452 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Popular by 18.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,779,309 shares of the bank’s stock valued at $225,990,000 after buying an additional 283,000 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Popular by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock valued at $175,057,000 after buying an additional 64,778 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.
Popular Stock Down 0.1%
Shares of Popular stock opened at $149.46 on Friday. The firm has a market cap of $9.65 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.75 and a beta of 0.63. The business has a 50-day moving average price of $141.55 and a 200 day moving average price of $132.12. Popular has a fifty-two week low of $100.54 and a fifty-two week high of $152.95.
Popular (NASDAQ:BPOP – Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, beating the consensus estimate of $3.30 by $0.48. Popular had a return on equity of 14.53% and a net margin of 20.10%.The company had revenue of $816.08 million during the quarter, compared to analyst estimates of $866.54 million. During the same period in the prior year, the company earned $2.56 earnings per share. As a group, equities research analysts anticipate that Popular will post 15.14 earnings per share for the current year.
Popular Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, May 29th. Popular’s dividend payout ratio is 22.16%.
Popular Company Profile
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.
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