Popular (NASDAQ:BPOP) Sets New 1-Year High – What’s Next?

Popular, Inc. (NASDAQ:BPOP) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $106.58 and last traded at $106.54, with a volume of 129095 shares changing hands. The stock had previously closed at $104.41.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BPOP shares. Wells Fargo & Company upped their price objective on shares of Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Piper Sandler reduced their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Barclays raised their price objective on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada raised their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Popular currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

Popular Stock Performance

The business’s 50-day moving average is $98.51 and its two-hundred day moving average is $97.73. The stock has a market capitalization of $7.41 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82.

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

Insider Activity at Popular

In other news, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Popular

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Popular during the fourth quarter worth approximately $79,842,000. Massachusetts Financial Services Co. MA grew its position in shares of Popular by 57.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank’s stock worth $133,446,000 after buying an additional 515,798 shares in the last quarter. First Trust Advisors LP grew its position in shares of Popular by 53.8% during the fourth quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank’s stock worth $123,496,000 after buying an additional 459,231 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Popular by 235.5% during the third quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank’s stock worth $33,299,000 after buying an additional 233,119 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Popular by 5.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank’s stock worth $394,373,000 after buying an additional 201,067 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

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.