Popular, Inc. (NASDAQ:BPOP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Popular, Inc. (NASDAQ:BPOP) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $112.25.

Several research firms have issued reports on BPOP. Wells Fargo & Company boosted their price objective on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their target price on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group initiated coverage on Popular in a report on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price objective on the stock. Finally, StockNews.com upgraded Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th.

Popular Stock Up 0.1 %

BPOP stock opened at $100.37 on Friday. The company has a market capitalization of $7.16 billion, a P/E ratio of 11.73, a PEG ratio of 0.75 and a beta of 0.82. The company has a 50-day simple moving average of $98.70 and a 200 day simple moving average of $97.86. Popular has a fifty-two week low of $80.60 and a fifty-two week high of $106.81.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Equities analysts anticipate that Popular will post 10.06 EPS for the current year.

Insider Buying and Selling

In other news, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares in the company, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Institutional Trading of Popular

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. acquired a new stake in shares of Popular in the third quarter valued at $29,000. Picton Mahoney Asset Management boosted its holdings in Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after acquiring an additional 118 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Popular in the third quarter valued at about $35,000. Brooklyn Investment Group bought a new position in Popular in the third quarter valued at about $47,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after acquiring an additional 218 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Company Profile

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.