Popular (NASDAQ:BPOP) PT Raised to $108.00

Popular (NASDAQ:BPOP) had its price target lifted by Royal Bank of Canada from $90.00 to $108.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

Several other research firms also recently issued reports on BPOP. Wells Fargo & Company upped their price target on Popular from $105.00 to $115.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. StockNews.com upgraded Popular from a sell rating to a hold rating in a research note on Wednesday, April 3rd. Keefe, Bruyette & Woods reiterated an outperform rating and set a $120.00 price target (up previously from $110.00) on shares of Popular in a research note on Thursday. Piper Sandler upped their price target on Popular from $96.00 to $105.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Finally, Hovde Group upped their price target on Popular from $113.00 to $123.00 and gave the stock an outperform rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $105.22.

Popular Trading Up 2.9 %

NASDAQ:BPOP opened at $102.21 on Thursday. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.82 and a beta of 0.80. Popular has a 1-year low of $59.27 and a 1-year high of $105.01. The business’s fifty day moving average price is $89.76 and its 200 day moving average price is $86.68.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. Popular had a return on equity of 12.00% and a net margin of 12.20%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $751.57 million. During the same quarter in the previous year, the company posted $2.10 earnings per share. Equities analysts forecast that Popular will post 8.41 earnings per share for the current year.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Thursday, May 30th were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.48 annualized dividend and a yield of 2.43%. Popular’s dividend payout ratio (DPR) is 36.80%.

Insider Buying and Selling at Popular

In other Popular news, EVP Gilberto Monzon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the completion of the transaction, the executive vice president now owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Manuel Chinea sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the completion of the transaction, the executive vice president now directly owns 27,086 shares of the company’s stock, valued at approximately $2,456,700.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gilberto Monzon sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the completion of the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at $4,145,856. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new position in shares of Popular in the 4th quarter worth approximately $1,563,000. UBS Group AG grew its position in Popular by 12.7% during the 4th quarter. UBS Group AG now owns 139,694 shares of the bank’s stock worth $11,465,000 after acquiring an additional 15,710 shares during the last quarter. Russell Investments Group Ltd. grew its position in Popular by 3.6% during the 1st quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock worth $25,924,000 after acquiring an additional 10,308 shares during the last quarter. Sei Investments Co. grew its position in Popular by 2.2% during the 1st quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock worth $24,898,000 after acquiring an additional 6,067 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Popular during the 4th quarter worth approximately $809,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Company Profile

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.