Popular (NASDAQ:BPOP) Now covered by analysts at Piper Sandler

Piper Sandler initiated coverage on the stock from Popular (NASDAQ:BPOP – Free Report) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $112.00 target price on the bank’s stock.

A number of other analysts have recently issued reports on BPOP. Royal Bank of Canada upped their target price on Popular from $90.00 to $108.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Hovde Group boosted their price objective on shares of Popular from $113.00 to $123.00 and gave the company an outperform rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Finally, Barclays upped their target price on shares of Popular from $103.00 to $115.00 and gave the company an overweight rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Popular currently has an average rating of Moderate Buy and an average price target of $106.00.

Get the latest research report on BPOP

Popular stock with 0.0%

Shares of BPOP stock opened at $99.53 on Monday. The firm has a market cap of $7.19 billion, a PE ratio of 14.77, a P/E/G ratio of 0.67 and a beta of 0.79. The company has a 50-day moving average of $94.28 and a 200-day moving average of $88.93. Popular has a 12-month low of $59.27 and a 12-month high of $105.01.

Popular (NASDAQ:BPOP – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 12.00%. During the same period in the previous year, the firm earned $2.10 EPS. On average, research analysts expect that Popular will post 8.76 earnings per share for the current year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.62 dividend. This represents a dividend of $2.48 on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, September 13. Popular’s dividend payout ratio is currently 36.80%.

Insider buying and selling at Popular

In other news, EVP Gilberto Monzon sold 5,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $85.80, for a total value of $429,000.00. Following the transaction, the executive vice president now owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. In related news, EVP Gilberto Monzon sold 5,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the transaction, the executive vice president now owns 48,320 shares of the company’s stock, valued at $4,145,856. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The disclosure for this sale can be found here. 2.09% of shares are currently owned by company insiders.

Hedge funds influence popular

A number of large investors have recently added to or reduced their stakes in BPOP. Headlands Technologies LLC purchased a new position in shares of Popular in the 1st quarter valued at approximately $42,000. Mather Group LLC. acquired a new stake in shares of Popular during the second quarter valued at approximately $44,000. Meeder Asset Management Inc. bought a new position in shares of Popular in the second quarter valued at about $48,000. Principal Securities Inc. purchased a new position in shares of Popular in the fourth quarter valued at $83,000. Finally, GAMMA Investing LLC purchased a new stake in Popular during the 4th quarter valued at $90,000. Hedge funds and other institutional investors own 87.27% of the company’s shares.

About Popular

(Get a free report)

Popular, Inc, through its subsidiaries, provides various retail, mortgage and commercial banking products and services in Puerto Rico, the United States and the British Virgin Islands. The company offers savings, NOW, money market and other interest-bearing demand accounts; non-interest-bearing demand deposits; and certificates of deposit.

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