Popular, Inc. (NASDAQ:BPOP) Stock Has Consensus Target Price of $187.42

Popular, Inc. (NASDAQ:BPOP) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $187.42.

BPOP has been the subject of several recent research reports. Wells Fargo & Company dropped their target price on shares of Popular from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, September 29th. Barclays raised their price target on Popular from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, October 5th. Royal Bank Of Canada lifted their price objective on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Piper Sandler reaffirmed an “overweight” rating and set a $198.00 price objective (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Finally, Citigroup dropped their price objective on Popular from $200.00 to $192.00 and set a “buy” rating for the company in a report on Tuesday, September 22nd.

Insider Buying and Selling

In other news, EVP Lidio Soriano sold 3,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $174.50, for a total value of $523,500.00. Following the completion of the transaction, the executive vice president owned 107,320 shares of the company’s stock, valued at $18,727,340. The trade was a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Javier D. Ferrer sold 35,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $175.43, for a total transaction of $6,140,050.00. Following the completion of the transaction, the chief executive officer directly owned 96,478 shares of the company’s stock, valued at $16,925,135.54. This trade represents a 26.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,561 shares of company stock valued at $9,392,259. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Popular by 1.9% during the second quarter. Wellington Management Group LLP now owns 1,004,676 shares of the bank’s stock worth $164,948,000 after purchasing an additional 18,647 shares during the period. Sei Investments Co. boosted its holdings in shares of Popular by 24.9% in the first quarter. Sei Investments Co. now owns 556,630 shares of the bank’s stock valued at $74,684,000 after buying an additional 110,887 shares during the period. Bank of America Corp DE boosted its holdings in shares of Popular by 8.2% in the first quarter. Bank of America Corp DE now owns 465,720 shares of the bank’s stock valued at $62,486,000 after buying an additional 35,226 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Popular in the second quarter valued at approximately $54,916,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Popular by 100.9% in the first quarter. Quantinno Capital Management LP now owns 272,800 shares of the bank’s stock valued at $36,602,000 after buying an additional 136,984 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Popular Trading Down 0.4%

Shares of NASDAQ BPOP opened at $155.82 on Wednesday. Popular has a 1-year low of $108.74 and a 1-year high of $179.24. The company has a market cap of $9.94 billion, a PE ratio of 10.53, a P/E/G ratio of 0.58 and a beta of 0.63. The company has a 50-day moving average of $165.87 and a two-hundred day moving average of $159.16.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%. The company had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. During the same quarter in the previous year, the company posted $3.09 earnings per share. As a group, equities research analysts forecast that Popular will post 15.70 earnings per share for the current year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This is a boost from Popular’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 2.3%. Popular’s payout ratio is currently 24.32%.

About Popular

Popular, Inc (NASDAQ:BPOP) is a financial services company headquartered in San Juan, Puerto Rico. Founded in 1893, the company provides banking and related financial services primarily through Banco Popular de Puerto Rico, its principal subsidiary, and serves individuals, businesses and institutions.

Its products and services include consumer and commercial deposit accounts, personal and business loans, residential mortgages, credit cards, auto financing, investment and wealth-management services, insurance-related offerings and electronic banking solutions.