Brokerages Set Popular, Inc. (NASDAQ:BPOP) Target Price at $171.18

Popular, Inc. (NASDAQ:BPOP) has earned an average recommendation of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $173.1818.

Several analysts have weighed in on BPOP shares. Wells Fargo & Company lifted their price objective on shares of Popular from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Piper Sandler raised their target price on shares of Popular from $173.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 4th. Barclays boosted their price target on Popular from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Zacks Research downgraded Popular from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th.

Insider Transactions at Popular

In related news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $148.51, for a total value of $920,762.00. Following the completion of the transaction, the executive vice president owned 11,255 shares of the company’s stock, valued at $1,671,480.05. The trade was a 35.52% 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, Director Alejandro M. Sanchez sold 300 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the transaction, the director directly owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,500 shares of company stock valued at $4,415,870. 2.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Popular

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Popular by 23.1% during the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock worth $8,715,000 after acquiring an additional 17,729 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Popular during the first quarter worth $257,000. Goldman Sachs Group Inc. boosted its holdings in shares of Popular by 60.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock valued at $20,647,000 after purchasing an additional 84,327 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Popular in the 1st quarter valued at $207,000. Finally, Sivia Capital Partners LLC acquired a new position in shares of Popular during the 2nd quarter worth $252,000. 87.27% of the stock is owned by institutional investors.

Popular Stock Performance

BPOP opened at $170.56 on Monday. Popular has a fifty-two week low of $108.74 and a fifty-two week high of $171.73. The company has a market capitalization of $11.01 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.92 and a beta of 0.61. The stock has a fifty day moving average of $156.02 and a 200-day moving average of $142.84.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.48. Popular had a net margin of 20.10% and a return on equity of 14.53%. The company had revenue of $816.08 million during the quarter, compared to analysts’ expectations of $866.54 million. During the same quarter in the previous year, the business posted $2.56 earnings per share. On average, equities research analysts predict that Popular will post 15 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio is presently 22.16%.

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.