Popular, Inc. (NASDAQ:BPOP) Receives $156.55 Consensus PT from Analysts

Popular, Inc. (NASDAQ:BPOP) has earned an average recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $159.0909.

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Popular from $153.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. UBS Group reissued a “neutral” rating and set a $142.00 price objective on shares of Popular in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods lifted their price objective on shares of Popular from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Credit Suisse Group set a $156.00 target price on shares of Popular in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company increased their target price on shares of Popular from $135.00 to $163.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th.

Insider Activity at Popular

In other news, Director Alejandro M. Sanchez sold 1,451 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $140.85, for a total transaction of $204,373.35. Following the completion of the sale, the director owned 3,415 shares in the company, valued at $481,002.75. This represents a 29.82% 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. Ballester sold 2,360 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $132.50, for a total value of $312,700.00. Following the sale, the director directly owned 57,449 shares of the company’s stock, valued at approximately $7,611,992.50. This represents a 3.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Several institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC lifted its stake in shares of Popular by 33.5% in the 4th quarter. Hsbc Holdings PLC now owns 74,594 shares of the bank’s stock worth $9,331,000 after acquiring an additional 18,721 shares during the period. Corient Private Wealth LLC increased its stake in shares of Popular by 8.8% during the fourth quarter. Corient Private Wealth LLC now owns 15,991 shares of the bank’s stock worth $1,991,000 after acquiring an additional 1,296 shares during the period. DGS Capital Management LLC acquired a new position in shares of Popular during the fourth quarter worth about $274,000. Invesco Ltd. raised its holdings in Popular by 88.8% during the fourth quarter. Invesco Ltd. now owns 149,185 shares of the bank’s stock worth $18,577,000 after purchasing an additional 70,181 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Popular by 50.3% in the fourth quarter. Mackenzie Financial Corp now owns 439,752 shares of the bank’s stock valued at $55,282,000 after purchasing an additional 147,197 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Price Performance

BPOP opened at $136.81 on Friday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. Popular has a 52 week low of $78.23 and a 52 week high of $149.31. The business’s 50 day moving average is $136.48 and its two-hundred day moving average is $126.27.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.36. The business had revenue of $806.59 million during the quarter, compared to the consensus estimate of $811.55 million. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same period in the prior year, the company earned $2.51 earnings per share. Equities analysts expect that Popular will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, March 18th. Popular’s dividend payout ratio (DPR) is presently 24.35%.

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.