Brokerages Set Popular, Inc. (NASDAQ:BPOP) Target Price at $111.57

Popular, Inc. (NASDAQ:BPOP) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $111.57.

BPOP has been the topic of a number of analyst reports. UBS Group initiated coverage on Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price on the stock. Royal Bank of Canada increased their price objective on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com upgraded Popular from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods upped their target price on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Barclays lifted 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.

Popular Stock Performance

Popular stock opened at $83.27 on Friday. Popular has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The stock’s fifty day moving average is $93.72 and its two-hundred day moving average is $95.71.

Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, sell-side analysts forecast that Popular will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Tuesday, March 18th. Popular’s dividend payout ratio is currently 32.71%.

Insider Buying and Selling

In related news, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction on Thursday, February 6th. The stock was 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 approximately $4,017,666.90. This trade represents a 19.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were 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 approximately $3,418,721.32. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new position in shares of Popular during the 4th quarter valued at $27,000. Picton Mahoney Asset Management lifted its stake in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after buying an additional 218 shares during the period. Versant Capital Management Inc grew its stake in shares of Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock valued at $76,000 after buying an additional 702 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Popular during the 3rd quarter valued at about $81,000. 87.27% of the stock is owned by institutional investors and hedge funds.

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.