Popular (NASDAQ:BPOP) Receives “Outperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Popular (NASDAQ:BPOP) in a research report report published on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $120.00 price objective on the bank’s stock, up from their prior price objective of $110.00.

Several other research analysts have also commented on the company. Piper Sandler raised their price objective on Popular from $96.00 to $105.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Hovde Group raised their target price on Popular from $113.00 to $123.00 and gave the company an outperform rating in a research note on Thursday. Wells Fargo & Company raised their target price on Popular from $105.00 to $115.00 and gave the company an overweight rating in a research note on Wednesday, April 24th. Barclays lowered their target price on Popular from $105.00 to $103.00 and set an overweight rating for the company in a research note on Monday, June 24th. Finally, StockNews.com upgraded Popular from a sell rating to a hold rating in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $105.22.

Popular Price Performance

NASDAQ:BPOP opened at $102.78 on Thursday. The business’s 50-day moving average is $89.97 and its two-hundred day moving average is $86.86. Popular has a 12 month low of $59.27 and a 12 month high of $105.01. The firm has a market capitalization of $7.43 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.84 and a beta of 0.80.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.08 by $0.38. Popular had a return on equity of 12.00% and a net margin of 12.20%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. During the same period last year, the company posted $2.10 earnings per share. Equities analysts anticipate that Popular will post 8.41 EPS for the current year.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Thursday, May 30th were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.48 dividend on an annualized basis and a yield of 2.41%. Popular’s dividend payout ratio (DPR) is 36.80%.

Insider Buying and Selling

In related news, EVP Gilberto Monzon sold 5,000 shares of Popular 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 completion of the transaction, the executive vice president now directly owns 48,320 shares in the company, valued at $4,145,856. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Popular news, EVP Manuel Chinea sold 12,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $90.70, for a total value of $1,088,400.00. Following the transaction, the executive vice president now owns 27,086 shares of the company’s stock, valued at $2,456,700.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $85.80, for a total transaction of $429,000.00. Following the completion of the transaction, the executive vice president now directly owns 48,320 shares in the company, valued at approximately $4,145,856. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

A number of large investors have recently bought and sold shares of BPOP. Headlands Technologies LLC bought a new position in Popular in the first quarter worth about $42,000. Mather Group LLC. bought a new position in Popular in the second quarter worth about $44,000. Principal Securities Inc. bought a new position in Popular in the fourth quarter worth about $83,000. GAMMA Investing LLC bought a new stake in shares of Popular during the fourth quarter valued at approximately $90,000. Finally, Clear Street Markets LLC bought a new stake in shares of Popular during the fourth quarter valued at approximately $139,000. Institutional investors own 87.27% of the company’s stock.

About Popular

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 provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.