Popular (NASDAQ:BPOP) Hits New 12-Month High – Time to Buy?

Shares of Popular, Inc. (NASDAQ:BPOP) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $174.00 and last traded at $170.0570, with a volume of 137 shares changing hands. The stock had previously closed at $169.39.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of analyst reports. Piper Sandler raised their price target on Popular from $173.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods boosted their price objective on Popular from $155.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Citigroup increased their price objective on Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Wells Fargo & Company raised their target price on Popular from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays lifted their target price on Popular from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $173.18.

Popular Stock Up 0.6%

The company has a market cap of $11.00 billion, a PE ratio of 12.60, a P/E/G ratio of 0.90 and a beta of 0.61. The stock has a 50-day moving average of $155.56 and a 200-day moving average of $142.65.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, topping the consensus estimate of $3.30 by $0.48. The business had revenue of $816.08 million during the quarter, compared to analysts’ expectations of $866.54 million. Popular had a return on equity of 14.53% and a net margin of 20.10%.During the same period in the previous year, the business earned $2.56 earnings per share. Research analysts expect that Popular, Inc. will post 15 EPS for the current year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. Popular’s payout ratio is presently 22.16%.

Insider Buying and Selling

In other Popular news, Director Alejandro M. Sanchez sold 300 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 3,960 shares of the company’s stock, valued at $595,425.60. The trade was a 7.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $148.51, for a total transaction of $920,762.00. Following the sale, the executive vice president owned 11,255 shares in the company, valued at approximately $1,671,480.05. This trade represents a 35.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 29,500 shares of company stock worth $4,415,870. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On Popular

Several hedge funds have recently added to or reduced their stakes in BPOP. Acumen Wealth Advisors LLC purchased a new position in shares of Popular in the 4th quarter worth about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Popular in the fourth quarter worth approximately $28,000. Parallel Advisors LLC grew its position in Popular by 70.8% during the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Popular during the third quarter worth approximately $31,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Popular in the 4th quarter worth approximately $50,000. Institutional investors own 87.27% of the company’s stock.

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.