Popular, Inc. (NASDAQ:BPOP) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Popular, Inc. (NASDAQ:BPOP) have earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $113.00.

A number of brokerages have weighed in on BPOP. UBS Group assumed coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays lifted their price objective on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th.

Popular Price Performance

NASDAQ BPOP opened at $92.81 on Tuesday. Popular has a 52-week low of $80.60 and a 52-week high of $106.81. The company has a 50 day simple moving average of $98.45 and a 200-day simple moving average of $97.07. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. On average, analysts predict that Popular will post 10.06 EPS for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s dividend payout ratio is presently 32.71%.

Insider Buying and Selling at Popular

In related news, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the transaction, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the sale, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

A number of hedge funds and other institutional investors have recently modified their holdings of BPOP. Norges Bank bought a new stake in shares of Popular in the 4th quarter worth approximately $79,842,000. Massachusetts Financial Services Co. MA raised its stake in shares of Popular by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank’s stock valued at $133,446,000 after buying an additional 515,798 shares during the period. First Trust Advisors LP grew its stake in shares of Popular by 53.8% during the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank’s stock worth $123,496,000 after acquiring an additional 459,231 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Popular by 5.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank’s stock worth $394,373,000 after acquiring an additional 201,067 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Popular by 32.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank’s stock valued at $68,041,000 after acquiring an additional 175,327 shares during the period. Hedge funds and other institutional investors own 87.27% of the company’s stock.

About Popular

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.