Popular (NASDAQ:BPOP) Reaches New 1-Year High – Still a Buy?

Popular, Inc. (NASDAQ:BPOP) reached a new 52-week high during trading on Thursday . The company traded as high as $176.51 and last traded at $173.6750, with a volume of 6859 shares changing hands. The stock had previously closed at $172.22.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of research reports. Royal Bank Of Canada boosted their price target on shares of Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Piper Sandler reaffirmed an “overweight” rating and set a $198.00 price objective (up from $190.00) on shares of Popular in a report on Friday, July 24th. Barclays lifted their target price on Popular from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Benchmark boosted their target price on Popular from $201.00 to $214.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Zacks Research cut Popular from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $184.42.

Popular Stock Performance

The firm’s 50-day moving average is $162.42 and its 200 day moving average is $147.08. The stock has a market cap of $11.18 billion, a PE ratio of 11.71, a P/E/G ratio of 0.91 and a beta of 0.61.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.72 by $0.63. The business had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. On average, sell-side analysts predict that Popular, Inc. will post 15.55 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, May 29th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio (DPR) is 20.27%.

Insider Buying and Selling at Popular

In other Popular news, Director Alejandro M. Sanchez sold 300 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the transaction, the director directly owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. The trade was a 7.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $148.51, for a total transaction of $920,762.00. Following the transaction, the executive vice president owned 11,255 shares of the company’s stock, valued at approximately $1,671,480.05. The trade was a 35.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BPOP. Royal Bank of Canada increased its position in Popular by 23.1% during the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock worth $8,715,000 after purchasing an additional 17,729 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Popular in the 1st quarter valued at approximately $257,000. Goldman Sachs Group Inc. boosted its stake in shares of Popular by 60.6% in the first quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock valued at $20,647,000 after buying an additional 84,327 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Popular in the first quarter valued at approximately $207,000. Finally, Sivia Capital Partners LLC acquired a new position in Popular during the second quarter worth $252,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.