Popular (NASDAQ:BPOP) Hits New 1-Year High – Should You Buy?

Shares of Popular, Inc. (NASDAQ:BPOP) reached a new 52-week high during trading on Friday . The company traded as high as $153.99 and last traded at $153.34, with a volume of 78037 shares. The stock had previously closed at $152.77.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BPOP shares. Wells Fargo & Company increased their target price on shares of Popular from $135.00 to $163.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Royal Bank Of Canada increased their target price on shares of Popular from $141.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Barclays increased their target price on shares of Popular from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, UBS Group increased their target price on shares of Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Popular has an average rating of “Buy” and an average target price of $168.73.

Popular Stock Performance

The business’s fifty day moving average is $145.42 and its 200-day moving average is $134.63. The firm has a market cap of $9.91 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 0.74 and a beta of 0.62.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.48. The business had revenue of $816.08 million during the quarter, compared to analyst estimates of $866.54 million. Popular had a net margin of 20.10% and a return on equity of 14.53%. During the same quarter last year, the business earned $2.56 EPS. Analysts predict that Popular, Inc. will post 15.14 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, May 29th. Popular’s dividend payout ratio (DPR) is 22.16%.

Insider Activity at Popular

In related news, Director Alejandro M. Sanchez sold 300 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the transaction, the director owned 3,960 shares in the company, valued at $595,425.60. This trade represents a 7.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alejandro M. Ballester sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $150.00, for a total transaction of $3,450,000.00. Following the completion of the transaction, the director owned 34,588 shares of the company’s stock, valued at approximately $5,188,200. This trade represents a 39.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,500 shares of company stock worth $4,415,870 in the last quarter. 2.13% of the stock is owned by insiders.

Institutional Trading of Popular

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC increased its position in Popular by 140.1% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 45,170 shares of the bank’s stock valued at $5,737,000 after purchasing an additional 26,354 shares during the period. Ceeto Capital Group LLC acquired a new stake in Popular during the 3rd quarter valued at approximately $29,115,000. Savant Capital LLC increased its position in Popular by 68.6% during the 3rd quarter. Savant Capital LLC now owns 17,309 shares of the bank’s stock valued at $2,198,000 after purchasing an additional 7,043 shares during the period. Allspring Global Investments Holdings LLC increased its position in Popular by 112.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,616 shares of the bank’s stock valued at $5,620,000 after purchasing an additional 23,584 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Popular by 13.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 77,807 shares of the bank’s stock valued at $9,882,000 after purchasing an additional 9,180 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

About Popular

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.