Popular (BPOP) – Investment Analysts’ Recent Ratings Changes

A number of firms have modified their ratings and price targets on shares of Popular (NASDAQ: BPOP) recently:

• 12/20/2024 – Popular had its price target raised by analysts at Barclays PLC from $110.00 to $115.00. They now have an “overweight” rating on the stock.
• 12/17/2024 – Popular is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $104.00 price target on the stock.
• 12/5/2024 – Popular had its price target raised by analysts at Barclays PLC from $104.00 to $110.00. They now have an “overweight” rating on the stock.
• 12/4/2024 – Popular had its price target raised by analysts at Keefe, Bruyette & Woods from $103.00 to $116.00. They now have an “outperform” rating on the stock.
• 12/3/2024 – Popular had its price target raised by analysts at Wells Fargo & Company from $90.00 to $105.00. They now have an “equal weight” rating on the stock.
• 10/24/2024 – Popular had its price target lowered by analysts at Piper Sandler from $112.00 to $100.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – Popular had its price target lowered by analysts at Barclays PLC from $117.00 to $104.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – Popular had its price target lowered by analysts at Royal Bank of Canada from $108.00 to $96.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – Popular had its price target lowered by analysts at Wells Fargo & Company from $105.00 to $98.00. They now have an “equal weight” rating on the stock.

Popular Trading Up 1.8 %

BPOP traded up $1.61 during trading hours on Friday, hitting $92.19. The company’s stock had a trading volume of 195,484 shares, compared to its average volume of 430,364. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.76 and a beta of 0.81. The business’s 50-day moving average price is $96.28 and its 200-day moving average price is $95.29. Popular, Inc. has a 12 month low of $79.01 and a 12 month high of $105.01.

Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The business had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter last year, the firm earned $1.90 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Popular, Inc. will post 8.46 earnings per share for the current year.

Popular Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.04%. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. Popular’s payout ratio is presently 38.04%.

Insider Buying and Selling at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the sale, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares of the company’s stock, valued at $325,569.72. This represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock valued at $105,769,000 after acquiring an additional 71,782 shares in the last quarter. Franklin Resources Inc. increased its position in Popular by 304.3% during the 3rd quarter. Franklin Resources Inc. now owns 99,861 shares of the bank’s stock valued at $10,042,000 after purchasing an additional 75,164 shares during the period. Tidal Investments LLC bought a new stake in shares of Popular in the 3rd quarter valued at about $1,635,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Popular in the 3rd quarter worth approximately $81,000. Finally, TCW Group Inc. boosted its stake in shares of Popular by 15.2% during the third quarter. TCW Group Inc. now owns 94,815 shares of the bank’s stock valued at $9,507,000 after purchasing an additional 12,494 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.