Popular, Inc. (NASDAQ:BPOP) Receives $112.25 Average PT from Brokerages

Shares of Popular, Inc. (NASDAQ:BPOP) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $112.25.

A number of research analysts recently weighed in on BPOP shares. Wells Fargo & Company lifted their target price on shares of Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th.

Popular Price Performance

Shares of BPOP stock opened at $100.41 on Friday. Popular has a 1 year low of $80.60 and a 1 year high of $106.81. The firm has a fifty day moving average price of $99.23 and a 200-day moving average price of $97.93. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Equities research analysts expect that Popular will post 10.06 EPS for the current year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s payout ratio is currently 32.71%.

Insiders Place Their Bets

In related news, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On Popular

Several hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in Popular by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock valued at $211,000 after purchasing an additional 112 shares during the last quarter. Picton Mahoney Asset Management grew its stake in Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after acquiring an additional 118 shares in the last quarter. Assetmark Inc. grew its stake in Popular by 4.0% in the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock worth $376,000 after acquiring an additional 143 shares in the last quarter. Arizona State Retirement System grew its stake in Popular by 0.7% in the 4th quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock worth $1,971,000 after acquiring an additional 143 shares in the last quarter. Finally, Pathstone Holdings LLC grew its stake in Popular by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after acquiring an additional 148 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

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.