Popular (NASDAQ:BPOP) Reaches New 12-Month High – Should You Buy?

Shares of Popular, Inc. (NASDAQ:BPOP) hit a new 52-week high on Monday . The company traded as high as $148.24 and last traded at $148.0450, with a volume of 67231 shares trading hands. The stock had previously closed at $145.97.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on shares of Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Truist Financial upped their price target on Popular from $153.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. UBS Group reissued a “neutral” rating and set a $142.00 target price on shares of Popular in a research note on Wednesday, February 4th. Credit Suisse Group set a $156.00 target price on Popular in a report on Tuesday, February 3rd. Finally, Citigroup increased their target price on shares of Popular from $144.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $155.73.

Popular Stock Up 0.9%

The company has a fifty day moving average of $126.40 and a two-hundred day moving average of $121.67. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.91 and a beta of 0.63.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping the consensus estimate of $3.02 by $0.36. Popular had a net margin of 18.75% and a return on equity of 13.87%. The company had revenue of $815.98 million during the quarter, compared to analysts’ expectations of $811.55 million. During the same quarter last year, the business earned $2.51 EPS. Equities analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. Popular’s dividend payout ratio is 24.35%.

Insider Buying and Selling at Popular

In other Popular news, Director Alejandro M. Ballester sold 2,360 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the sale, the director directly owned 57,449 shares in the company, valued at approximately $7,611,992.50. The trade was a 3.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard L. Carrion sold 25,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the transaction, the director directly owned 193,020 shares in the company, valued at approximately $21,907,770. This trade represents a 11.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 28,360 shares of company stock valued at $3,265,040. 2.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Popular

Several hedge funds have recently bought and sold shares of BPOP. Advisory Services Network LLC purchased a new stake in Popular during the third quarter worth $31,000. Allworth Financial LP lifted its holdings in shares of Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after purchasing an additional 367 shares in the last quarter. True Wealth Design LLC grew its position in shares of Popular by 262.9% in the third quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock worth $53,000 after purchasing an additional 471 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Popular by 198.3% during the 4th quarter. Global Retirement Partners LLC now owns 537 shares of the bank’s stock worth $67,000 after purchasing an additional 357 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

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.