Popular (BPOP) PT Raised to $66.00 at BTIG Research

Popular (NASDAQ:BPOP) had its price objective upped by BTIG Research to $66.00 in a report issued on Tuesday, The Fly reports. They currently have a buy rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Popular from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Zacks Investment Research cut shares of Popular from a strong-buy rating to a hold rating in a research report on Tuesday, March 26th. Finally, Barclays restated a buy rating and issued a $59.00 price objective on shares of Popular in a research report on Friday, January 11th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $59.71.

Popular stock opened at $57.09 on Tuesday. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 11.97 and a beta of 1.17. Popular has a twelve month low of $44.22 and a twelve month high of $58.55.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.24. The business had revenue of $607.39 million during the quarter, compared to the consensus estimate of $603.70 million. Popular had a net margin of 24.69% and a return on equity of 10.64%. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, equities analysts anticipate that Popular will post 6.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.30 dividend. This is a boost from Popular’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Popular’s payout ratio is presently 25.16%.

In other Popular news, insider Gilberto Monzon sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $54.13, for a total value of $216,520.00. Following the transaction, the insider now owns 38,588 shares in the company, valued at $2,088,768.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Luisa Ferre sold 3,046 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $56.43, for a total transaction of $171,885.78. Following the completion of the transaction, the director now owns 34,224 shares in the company, valued at approximately $1,931,260.32. The disclosure for this sale can be found here. Insiders sold 16,046 shares of company stock worth $888,326 in the last 90 days. Corporate insiders own 1.33% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Popular by 65.0% during the first quarter. BNP Paribas Arbitrage SA now owns 16,143 shares of the bank’s stock valued at $842,000 after buying an additional 6,358 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Popular by 26.3% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 193,182 shares of the bank’s stock worth $10,071,000 after acquiring an additional 40,260 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in Popular by 274.6% during the first quarter. Virginia Retirement Systems ET AL now owns 26,600 shares of the bank’s stock worth $1,387,000 after acquiring an additional 19,500 shares in the last quarter. Investec Asset Management PTY Ltd boosted its stake in Popular by 2.7% during the first quarter. Investec Asset Management PTY Ltd now owns 38,339 shares of the bank’s stock worth $2,008,000 after acquiring an additional 997 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new stake in Popular during the first quarter worth about $203,000. Institutional investors own 90.39% of the company’s stock.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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Analyst Recommendations for Popular (NASDAQ:BPOP)

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