Weekly Investment Analysts’ Ratings Updates for Popular (BPOP)

Several analysts have recently updated their ratings and price targets for Popular (NASDAQ: BPOP):

• 4/25/2024 – Popular had its price target raised by analysts at Barclays PLC from $99.00 to $105.00. They now have an “overweight” rating on the stock.
• 4/24/2024 – Popular had its price target raised by analysts at Wells Fargo & Company from $105.00 to $115.00. They now have an “overweight” rating on the stock.
• 4/24/2024 – Popular had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $110.00 price target on the stock, up previously from $103.00.
• 4/24/2024 – Popular had its price target raised by analysts at Hovde Group from $112.00 to $113.00. They now have an “outperform” rating on the stock.
• 4/9/2024 – Popular had its price target raised by analysts at Piper Sandler from $96.00 to $105.00. They now have an “overweight” rating on the stock.
• 4/3/2024 – Popular was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/26/2024 – Popular was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/18/2024 – Popular was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/13/2024 – Popular had its price target raised by analysts at Citigroup Inc. from $103.00 to $107.00. They now have a “buy” rating on the stock.
• 3/8/2024 – Popular was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/8/2024 – Popular is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $99.00 price target on the stock.

Popular Stock Performance

Popular stock traded up $0.44 during mid-day trading on Monday, reaching $87.02. 2,141 shares of the company were exchanged, compared to its average volume of 441,997. Popular, Inc. has a twelve month low of $52.32 and a twelve month high of $89.70. The firm’s 50-day simple moving average is $84.61 and its two-hundred day simple moving average is $79.26. The firm has a market cap of $6.29 billion, a PE ratio of 12.91 and a beta of 0.82.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to analysts’ expectations of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. As a group, equities research analysts anticipate that Popular, Inc. will post 8.46 EPS for the current year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.85%. The ex-dividend date was Wednesday, March 13th. Popular’s payout ratio is currently 36.80%.

Insider Activity at Popular

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Luis E. Cestero sold 599 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the sale, the executive vice president now owns 26,529 shares in the company, valued at $2,272,208.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its stake in shares of Popular by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 30,898 shares of the bank’s stock worth $1,947,000 after purchasing an additional 150 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Popular by 6.7% during the first quarter. Wedmont Private Capital now owns 2,729 shares of the bank’s stock worth $237,000 after purchasing an additional 171 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Popular by 1.4% during the third quarter. Arizona State Retirement System now owns 20,493 shares of the bank’s stock worth $1,291,000 after purchasing an additional 277 shares in the last quarter. Rock Point Advisors LLC lifted its stake in shares of Popular by 1.1% during the third quarter. Rock Point Advisors LLC now owns 31,792 shares of the bank’s stock worth $2,003,000 after purchasing an additional 345 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Popular by 0.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,543 shares of the bank’s stock worth $7,091,000 after purchasing an additional 367 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

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.