Popular, Inc. (NASDAQ:BPOP) Receives $106.00 Average Target Price from Brokerages

Shares of Popular, Inc. (NASDAQ:BPOP) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $106.00.

A number of analysts have recently issued reports on BPOP shares. Piper Sandler started coverage on shares of Popular in a research report on Monday, August 26th. They issued an “overweight” rating and a $112.00 price target for the company. Royal Bank of Canada increased their price objective on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays increased their price objective on Popular from $103.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Hovde Group increased their price objective on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th.

Popular Price Performance

NASDAQ BPOP opened at $99.55 on Tuesday. The company has a 50 day simple moving average of $98.85 and a 200-day simple moving average of $91.32. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. Popular has a 52-week low of $59.27 and a 52-week high of $105.01.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same period in the prior year, the firm earned $2.10 earnings per share. On average, analysts predict that Popular will post 8.86 EPS for the current year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 2.49%. Popular’s dividend payout ratio (DPR) is presently 36.80%.

Insider Buying and Selling at Popular

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Popular in the first quarter worth $42,000. Mather Group LLC. acquired a new stake in shares of Popular in the second quarter worth $44,000. Meeder Asset Management Inc. acquired a new stake in shares of Popular in the second quarter worth $48,000. GAMMA Investing LLC grew its stake in shares of Popular by 16.8% in the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after acquiring an additional 181 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of Popular in the fourth quarter worth $139,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Company Profile

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.