Analysts Set Popular, Inc. (NASDAQ:BPOP) Price Target at $106.00

Shares of Popular, Inc. (NASDAQ:BPOP) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $106.22.

Several research firms have commented on BPOP. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Barclays upped their price target on shares of Popular from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler started coverage on shares of Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Hovde Group raised their price target on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the sale, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Popular

A number of institutional investors and hedge funds have recently made changes to their positions in BPOP. Headlands Technologies LLC purchased a new stake in Popular during the first quarter valued at approximately $42,000. Mather Group LLC. purchased a new stake in shares of Popular in the 2nd quarter worth $44,000. Meeder Asset Management Inc. bought a new position in Popular in the 2nd quarter worth $48,000. GAMMA Investing LLC lifted its position in Popular by 16.8% during the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after purchasing an additional 181 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new position in Popular during the fourth quarter valued at $139,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Price Performance

Shares of NASDAQ BPOP opened at $100.27 on Tuesday. Popular has a 1 year low of $59.27 and a 1 year high of $105.01. The firm has a 50-day moving average of $98.84 and a 200 day moving average of $91.52. The stock has a market cap of $7.25 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.38. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same period last year, the business earned $2.10 earnings per share. Research analysts expect that Popular will post 8.86 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.47%. Popular’s dividend payout ratio (DPR) is 36.80%.

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.