Popular (NASDAQ:BPOP) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Popular, Inc. (NASDAQ:BPOP) shares crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $159.98 and traded as high as $160.23. Popular shares last traded at $160.10, with a volume of 310,583 shares trading hands.

Analyst Ratings Changes

BPOP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Truist Financial lifted their price objective on shares of Popular from $192.00 to $197.00 and gave the company a “buy” rating in a report on Friday, July 24th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 8th. Wells Fargo & Company dropped their target price on shares of Popular from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Barclays raised their target price on shares of Popular from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $186.42.

Popular Stock Performance

The firm has a market capitalization of $9.99 billion, a PE ratio of 10.09, a P/E/G ratio of 0.48 and a beta of 0.63. The stock has a fifty day moving average price of $159.98 and a 200-day moving average price of $154.43.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.26. Popular had a return on equity of 16.15% and a net margin of 22.36%. The firm had revenue of $874.59 million during the quarter, compared to analysts’ expectations of $904.43 million. During the same period in the prior year, the business posted $3.14 EPS. Research analysts expect that Popular, Inc. will post 16.05 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, November 13th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, November 13th. Popular’s payout ratio is 22.68%.

Insider Buying and Selling

In other Popular news, VP Adorno Rodriguez sold 600 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $168.79, for a total value of $101,274.00. Following the completion of the transaction, the vice president directly owned 2,492 shares in the company, valued at approximately $420,624.68. The trade was a 19.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of Popular

A number of institutional investors have recently modified their holdings of the company. Private Wealth Asset Management LLC purchased a new position in shares of Popular in the 3rd quarter worth approximately $423,000. Ieq Capital LLC raised its stake in shares of Popular by 16.9% during the 3rd quarter. Ieq Capital LLC now owns 76,210 shares of the bank’s stock worth $11,847,000 after acquiring an additional 11,016 shares in the last quarter. Boston Partners raised its stake in shares of Popular by 73.6% during the 3rd quarter. Boston Partners now owns 57,091 shares of the bank’s stock worth $8,875,000 after acquiring an additional 24,204 shares in the last quarter. OneAscent Financial Services LLC lifted its position in Popular by 95.0% during the third quarter. OneAscent Financial Services LLC now owns 4,070 shares of the bank’s stock valued at $633,000 after acquiring an additional 1,983 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in Popular during the third quarter valued at approximately $5,778,000. 87.27% of the stock is currently owned by institutional investors.

Popular Company Profile

Popular, Inc. is a financial holding company headquartered in San Juan, Puerto Rico. Founded in 1893, it provides banking and other financial services primarily in Puerto Rico and the U.S. mainland. Its principal subsidiary, Banco Popular de Puerto Rico, serves individuals and businesses with consumer and commercial banking, mortgage lending, and related financial services. Popular also operates Popular Bank in the mainland United States and provides auto financing through Popular Auto. Ignacio Alvarez is Popular’s president and chief executive officer.