Popular, Inc. (NASDAQ:BPOP) Given Consensus Recommendation of “Buy” by Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have been given a consensus rating of “Buy” by the twelve analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $155.7273.

A number of research firms recently commented on BPOP. Barclays lifted their target price on shares of Popular from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. UBS Group reiterated a “neutral” rating and set a $142.00 price objective on shares of Popular in a research note on Wednesday, February 4th. Credit Suisse Group set a $156.00 target price on Popular in a research report on Tuesday, February 3rd. Truist Financial raised their target price on Popular from $153.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a research note on Wednesday, January 21st.

Insiders Place Their Bets

In related news, Director Alejandro M. Ballester sold 2,360 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the completion of the transaction, the director owned 57,449 shares of the company’s stock, valued at $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard L. Carrion sold 25,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the transaction, the director owned 193,020 shares of the company’s stock, valued at $21,907,770. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 28,360 shares of company stock valued at $3,265,040. 2.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Popular

A number of institutional investors have recently modified their holdings of BPOP. Advisory Services Network LLC purchased a new stake in shares of Popular in the third quarter worth about $31,000. Allworth Financial LP boosted its position in Popular by 2,158.8% in the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after purchasing an additional 367 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Popular by 262.9% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock worth $45,000 after purchasing an additional 255 shares during the period. IFP Advisors Inc increased its holdings in shares of Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after purchasing an additional 471 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Popular during the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Price Performance

Shares of BPOP stock opened at $146.68 on Friday. The stock’s fifty day moving average price is $127.66 and its 200 day moving average price is $122.13. Popular has a 1-year low of $78.23 and a 1-year high of $148.24. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.36. Popular had a return on equity of 13.87% and a net margin of 18.75%.The business had revenue of $815.98 million during the quarter, compared to the consensus estimate of $811.55 million. During the same quarter last year, the company earned $2.51 earnings per share. As a group, equities research analysts anticipate that Popular will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, December 5th. Popular’s dividend payout ratio is 24.35%.

About Popular

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.