In yesterday’s Wall Street session, Popular Inc. (NASDAQ:BPOP) shares traded at $62.00, down -6.71% from the previous session.
As of this writing, 5 analysts cover Popular Inc. (NASDAQ:BPOP). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $94.00 and a low of $74.00, we find $75.00. Given the previous closing price of $66.46, this indicates a potential upside of 12.85 percent. BPOP stock price is now -9.72% away from the 50-day moving average and -15.56% away from the 200-day moving average. The market capitalization of the company currently stands at $4.40B.
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There are 1 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $79.60 as their price target over the next twelve months.
With the price target reduced from $85 to $74, Keefe Bruyette Downgraded its rating from Outperform to Mkt Perform for Popular Inc. (NASDAQ: BPOP)., while ‘Hovde Group’ rates the stock as ‘Outperform’.
In other news, VAZQUEZ CARLOS J, Executive Vice President & CFO sold 9,635 shares of the company’s stock on Aug 26. The stock was sold for $774,461 at an average price of $80.38. Upon completion of the transaction, the Executive Vice President & CFO now directly owns 118,015 shares in the company, valued at $7.32 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 26, Senior VP & Comptroller Garcia Jorge J. sold 1,383 shares of the business’s stock. A total of $110,937 was realized by selling the stock at an average price of $80.22. This leaves the insider owning 9,299 shares of the company worth $0.58 million. Insiders disposed of 46,418 shares of company stock worth roughly $2.88 million over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BPOP stock. A new stake in Popular Inc. shares was purchased by BALYASNY ASSET MANAGEMENT LLC during the first quarter worth $18,485,000. NATIXIS invested $11,557,000 in shares of BPOP during the first quarter. In the first quarter, CANDRIAM S.C.A. acquired a new stake in Popular Inc. valued at approximately $9,794,000. CANADA PENSION PLAN INVESTMENT BOARD acquired a new stake in BPOP for approximately $7,291,000. REDWOOD INVESTMENT MANAGEMENT, LLC purchased a new stake in BPOP valued at around $6,618,000 in the second quarter. In total, there are 430 active investors with 89.10% ownership of the company’s stock.
Thursday morning saw Popular Inc. (NASDAQ: BPOP) opened at $65.26. During the past 12 months, Popular Inc. has had a low of $62.55 and a high of $86.84. The fifty day moving average price for BPOP is $68.67 and a two-hundred day moving average price translates $73.42 for the stock.
The latest earnings results from Popular Inc. (NASDAQ: BPOP) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $3.56, beating analysts’ expectations of $2.62 by 0.94. This compares to $2.59 EPS in the same period last year. The net profit margin was 44.70% and return on equity was 26.50% for BPOP. The company reported revenue of $713.19 million for the quarter, compared to $539.26 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.25 percent. For the current quarter, analysts expect BPOP to generate $582.14M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/03/2023. Investors who held shares on 03/20/2023 were paid a $0.55 dividend. On an annualized basis, this represents a $2.20 dividend and a 3.55% percent yield. There was an ex-dividend date of 03/17/2023 for this dividend. In terms of dividend payout ratio, BPOP is presently at 14.90%.
Popular Inc.(BPOP) Company Profile
Popular, Inc., through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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. It also offers commercial and industrial, commercial multi-family, commercial real estate, and 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. In addition, the company provides investment banking, auto and equipment leasing and financing, broker-dealer, and insurance services; debit cards; and online banking services. As of December 31, 2021, it operated 169 branches; and 616 ATMs in Puerto Rico, 23 ATMs in the Virgin Islands, and 91 ATMs in the United States Mainland. Popular, Inc. was founded in 1893 and is headquartered in Hato Rey, Puerto Rico.
