Popular, Inc. (NASDAQ:BPOP – Get Free Report) has been assigned a consensus rating of “Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $171.1818.
A number of equities research analysts have recently weighed in on BPOP shares. Wells Fargo & Company lifted their target price on Popular from $135.00 to $163.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Barclays lifted their price objective on shares of Popular from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Piper Sandler increased their target price on shares of Popular from $173.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods raised their target price on shares of Popular from $155.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 4th.
View Our Latest Analysis on Popular
Popular Stock Performance
Popular (NASDAQ:BPOP – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.48. The company had revenue of $816.08 million during the quarter, compared to analysts’ expectations of $866.54 million. Popular had a return on equity of 14.53% and a net margin of 20.10%.During the same quarter in the previous year, the company posted $2.56 earnings per share. As a group, equities analysts forecast that Popular will post 15.13 earnings per share for the current year.
Popular Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio (DPR) is 22.16%.
Insider Buying and Selling at Popular
In other Popular news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of Popular stock in a transaction 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 transaction, the executive vice president directly owned 11,255 shares of the company’s stock, valued at $1,671,480.05. The trade was a 35.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alejandro M. Sanchez sold 300 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the sale, the director owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. The trade was a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,500 shares of company stock valued at $4,415,870 in the last three months. Corporate insiders own 2.13% of the company’s stock.
Institutional Investors Weigh In On Popular
Several institutional investors and hedge funds have recently bought and sold shares of BPOP. Vanguard Group Inc. grew its stake in 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 buying an additional 37,424 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Popular by 1.4% in the 4th 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 in the last quarter. AQR Capital Management LLC raised its position in shares of Popular by 56.2% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Popular by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock worth $175,057,000 after acquiring an additional 64,778 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Popular by 9.3% during the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank’s stock worth $129,966,000 after acquiring an additional 88,765 shares during the period. Institutional investors own 87.27% of the company’s stock.
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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