Popular Inc (BPOP) Given Average Rating of “Buy” by Analysts

Shares of Popular Inc (NASDAQ:BPOP) have earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $55.00.

Several brokerages have recently weighed in on BPOP. BidaskClub raised Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research cut Popular from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Finally, Barclays reissued a “buy” rating and issued a $59.00 price target on shares of Popular in a research note on Friday, January 11th.

In other news, insider Carlos J. Vazquez sold 4,000 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $55.48, for a total value of $221,920.00. Following the completion of the sale, the insider now owns 106,352 shares of the company’s stock, valued at $5,900,408.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maria Luisa Ferre sold 3,046 shares of the stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $56.43, for a total value of $171,885.78. Following the completion of the sale, the director now directly owns 34,224 shares of the company’s stock, valued at approximately $1,931,260.32. The disclosure for this sale can be found here. In the last three months, insiders sold 16,046 shares of company stock valued at $888,326. Insiders own 1.33% of the company’s stock.

Several institutional investors have recently made changes to their positions in BPOP. Janus Henderson Group PLC boosted its position in shares of Popular by 51.8% during the 3rd quarter. Janus Henderson Group PLC now owns 101,700 shares of the bank’s stock valued at $5,212,000 after purchasing an additional 34,700 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Popular by 0.6% during the 3rd quarter. Martingale Asset Management L P now owns 790,269 shares of the bank’s stock valued at $40,502,000 after purchasing an additional 4,702 shares in the last quarter. BlackRock Inc. boosted its position in shares of Popular by 0.4% during the 3rd quarter. BlackRock Inc. now owns 4,846,725 shares of the bank’s stock valued at $248,395,000 after purchasing an additional 18,507 shares in the last quarter. United Services Automobile Association boosted its position in shares of Popular by 2.3% during the 3rd quarter. United Services Automobile Association now owns 79,910 shares of the bank’s stock valued at $4,095,000 after purchasing an additional 1,795 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Popular by 45.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 173,869 shares of the bank’s stock valued at $8,911,000 after purchasing an additional 53,939 shares in the last quarter. Institutional investors own 90.30% of the company’s stock.

Popular stock opened at $53.09 on Friday. Popular has a 52 week low of $42.78 and a 52 week high of $58.55. The firm has a market cap of $5.13 billion, a PE ratio of 11.13 and a beta of 1.17.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, January 23rd. The bank reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Popular had a return on equity of 9.30% and a net margin of 23.01%. The firm had revenue of $629.39 million during the quarter, compared to analyst estimates of $602.90 million. During the same period in the previous year, the company earned ($1.01) EPS. Research analysts expect that Popular will post 6.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.30 dividend. This is a boost from Popular’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.26%. Popular’s dividend payout ratio is presently 25.16%.

About Popular

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.

Featured Article: Current Ratio

Analyst Recommendations for Popular (NASDAQ:BPOP)

Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.