Popular (NASDAQ:BPOP) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Popular, Inc. (NASDAQ:BPOP) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $159.98 and traded as high as $160.23. Popular shares last traded at $160.10, with a volume of 310,583 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BPOP shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Popular in a research note on Thursday, October 29th. Wells Fargo & Company dropped their price objective on shares of Popular from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday. Barclays boosted their target price on shares of Popular from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Keefe, Bruyette & Woods upped their target price on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada increased their price target on shares of Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Popular currently has an average rating of “Buy” and a consensus price target of $186.42.

Popular Stock Performance

The stock has a market cap of $9.99 billion, a PE ratio of 10.09, a PEG ratio of 0.48 and a beta of 0.63. The stock has a fifty day moving average price of $159.98 and a 200 day moving average price of $154.43.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $4.21 EPS for the quarter, topping the consensus estimate of $3.95 by $0.26. Popular had a net margin of 22.36% and a return on equity of 16.15%. The company had revenue of $874.59 million during the quarter, compared to analyst estimates of $904.43 million. During the same period in the previous year, the firm earned $3.14 earnings per share. As a group, equities analysts anticipate that Popular, Inc. will post 16.05 earnings per share for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, November 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, November 13th. Popular’s dividend payout ratio (DPR) is 22.68%.

Insider Activity at Popular

In related news, VP Adorno Rodriguez sold 600 shares of Popular stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $168.79, for a total transaction of $101,274.00. Following the completion of the transaction, the vice president directly owned 2,492 shares of the company’s stock, valued at approximately $420,624.68. The trade was a 19.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of Popular

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Wealth Asset Management LLC bought a new position in shares of Popular during the third quarter valued at approximately $423,000. Ieq Capital LLC boosted its holdings in Popular by 16.9% during the 3rd quarter. Ieq Capital LLC now owns 76,210 shares of the bank’s stock valued at $11,847,000 after acquiring an additional 11,016 shares during the period. Boston Partners boosted its holdings in Popular by 73.6% during the 3rd quarter. Boston Partners now owns 57,091 shares of the bank’s stock valued at $8,875,000 after acquiring an additional 24,204 shares during the period. OneAscent Financial Services LLC grew its position in Popular by 95.0% in the 3rd quarter. OneAscent Financial Services LLC now owns 4,070 shares of the bank’s stock valued at $633,000 after acquiring an additional 1,983 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in Popular in the 3rd quarter valued at $5,778,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Company Profile

Popular, Inc. is a financial holding company headquartered in San Juan, Puerto Rico. Founded in 1893, it provides banking and other financial services primarily in Puerto Rico and the U.S. mainland. Its principal subsidiary, Banco Popular de Puerto Rico, serves individuals and businesses with consumer and commercial banking, mortgage lending, and related financial services. Popular also operates Popular Bank in the mainland United States and provides auto financing through Popular Auto. Ignacio Alvarez is Popular’s president and chief executive officer.