Popular (NASDAQ:BPOP) Reaches New 52-Week High – Still a Buy?

Shares of Popular, Inc. (NASDAQ:BPOP) reached a new 52-week high during trading on Tuesday . The company traded as high as $106.58 and last traded at $106.54, with a volume of 129095 shares traded. The stock had previously closed at $104.41.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Piper Sandler lowered their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. UBS Group assumed coverage on shares of Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target for the company. Finally, StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

Popular Trading Up 1.8 %

The stock has a market capitalization of $7.58 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.75 and a beta of 0.82. The firm’s fifty day moving average price is $98.03 and its two-hundred day moving average price is $97.55.

Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, sell-side analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares in the company, valued at $3,418,721.32. This represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

A number of institutional investors have recently added to or reduced their stakes in the stock. GTS Securities LLC acquired a new stake in Popular in the 4th quarter valued at $309,000. Vise Technologies Inc. acquired a new stake in Popular in the 4th quarter valued at $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Popular by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 215,936 shares of the bank’s stock valued at $20,311,000 after acquiring an additional 19,282 shares during the period. Voloridge Investment Management LLC acquired a new stake in Popular in the 4th quarter valued at $11,305,000. Finally, Two Sigma Advisers LP boosted its stake in Popular by 46.1% during the 4th quarter. Two Sigma Advisers LP now owns 98,500 shares of the bank’s stock worth $9,265,000 after purchasing an additional 31,100 shares during the last quarter. Institutional investors and hedge funds own 87.27% 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, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.