Popular (NASDAQ:BPOP) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Popular (NASDAQ:BPOP) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other equities analysts have also commented on the stock. Barclays increased their price target on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company raised their price target on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group began coverage on Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.00.

Popular Stock Performance

NASDAQ:BPOP opened at $82.50 on Friday. Popular has a 52-week low of $78.59 and a 52-week high of $106.81. The stock has a fifty day moving average of $96.78 and a 200 day moving average of $96.65. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results 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 return on equity of 11.89% and a net margin of 14.15%. Equities analysts forecast that Popular will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 3.39%. Popular’s payout ratio is 32.71%.

Insider Buying and Selling at Popular

In related news, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at $4,017,666.90. The trade was a 19.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

A number of large investors have recently made changes to their positions in the business. Picton Mahoney Asset Management lifted its stake in Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Popular in the 3rd quarter worth about $81,000. Versant Capital Management Inc boosted its stake in shares of Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock valued at $76,000 after purchasing an additional 702 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Popular during the fourth quarter valued at about $166,000. 87.27% of the stock is currently owned by institutional investors.

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.