Popular (NASDAQ:BPOP) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Popular (NASDAQ:BPOP) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Hovde Group lifted their price objective on shares of Popular from $153.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Citigroup lifted their price objective on shares of Popular from $161.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Credit Suisse Group set a $156.00 price objective on shares of Popular in a report on Tuesday, February 3rd. UBS Group raised shares of Popular from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $142.00 to $160.00 in a report on Tuesday. Finally, Royal Bank Of Canada lifted their price objective on shares of Popular from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.18.

Popular Trading Up 3.1%

Popular stock traded up $4.43 during mid-day trading on Monday, reaching $146.07. The company’s stock had a trading volume of 118,748 shares, compared to its average volume of 558,263. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.85 and a beta of 0.59. The business has a 50 day moving average price of $137.04 and a 200-day moving average price of $126.48. Popular has a twelve month low of $79.63 and a twelve month high of $149.31.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.36. The firm had revenue of $806.59 million during the quarter, compared to the consensus estimate of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.70%. During the same quarter in the previous year, the company posted $2.51 earnings per share. On average, 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. Investors of record on Wednesday, March 18th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, March 18th. Popular’s payout ratio is currently 24.35%.

Insider Transactions at Popular

In related news, Director Alejandro M. Ballester sold 2,360 shares of Popular stock in a transaction dated 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 $7,611,992.50. The trade was a 3.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alejandro M. Sanchez sold 1,451 shares of Popular stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $140.85, for a total transaction of $204,373.35. Following the sale, the director owned 3,415 shares in the company, valued at approximately $481,002.75. This represents a 29.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Popular

A number of hedge funds and other institutional investors have recently modified their holdings of BPOP. Royal Bank of Canada raised its stake in shares of Popular by 23.1% during the first quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock valued at $8,715,000 after purchasing an additional 17,729 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Popular in the first quarter worth about $257,000. Goldman Sachs Group Inc. raised its position in Popular by 60.6% in the first quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock worth $20,647,000 after acquiring an additional 84,327 shares in the last quarter. Focus Partners Wealth bought a new stake in Popular in the first quarter worth about $207,000. Finally, Sivia Capital Partners LLC bought a new stake in Popular in the second quarter worth about $252,000. 87.27% of the stock is currently owned by institutional investors.

Key Stories Impacting Popular

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Barclays raised its price target for BPOP to $180 and kept an “overweight” rating, implying material upside versus the current price and signaling stronger analyst conviction in Popular’s earnings outlook. Barclays raises price target to $180
• Positive Sentiment: UBS upgraded Popular from “hold” to “buy” and lifted its target to $160, which supports buying interest and likely contributed to intraday gains. UBS upgrades to buy, raises target to $160
• Positive Sentiment: Coverage and positive write-ups (e.g., Kalkine) highlighting the upgrade momentum and banking-sector focus have reinforced investor attention on BPOP. Popular upgrade sparks Nasdaq banking focus
• Neutral Sentiment: Popular announced U.S. leadership changes, naming Israel Velasco EVP and Head of U.S. Operations — a governance/operational move tied to a new strategic framework that may affect execution over the medium term but is not an immediate earnings surprise. Executive leadership changes announcement
• Neutral Sentiment: Macro/policy headlines (NYT piece on proposed federal budget cuts) are market-moving broadly but have an indirect and uncertain impact on Popular specifically; investors may watch consumer- and mortgage-related implications. NYT: To boost military budget, Trump targets programs at home
• Negative Sentiment: Zacks Research downgraded Popular from “strong-buy” to “hold,” which can reduce near-term buy-side conviction and cap upside despite other upgrades. Zacks downgrades Popular to hold
• Neutral Sentiment: A topical piece about customized gifts is unrelated to Popular’s fundamentals and is unlikely to move the stock. The Popularity of Customized Gifts

Popular Company Profile

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.