Popular (NASDAQ:BPOP) Sets New 52-Week High at $90.84

Popular, Inc. (NASDAQ:BPOP)’s share price hit a new 52-week high on Thursday . The stock traded as high as $90.84 and last traded at $90.63, with a volume of 26729 shares. The stock had previously closed at $90.30.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Hovde Group upped their price objective on shares of Popular from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada increased their price target on shares of Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $110.00 price target (up from $103.00) on shares of Popular in a research note on Wednesday, April 24th. Finally, Citigroup raised their price target on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular presently has a consensus rating of “Moderate Buy” and an average target price of $99.89.

Popular Trading Down 0.2 %

The company has a market cap of $6.51 billion, a P/E ratio of 13.40, a PEG ratio of 0.84 and a beta of 0.81. The business has a 50 day moving average price of $85.26 and a 200-day moving average price of $80.52.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s payout ratio is presently 36.80%.

Insider Buying and Selling

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.13% of the stock is owned by insiders.

Institutional Trading of Popular

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in Popular in the first quarter valued at about $42,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Popular in the fourth quarter valued at about $44,000. Principal Securities Inc. acquired a new stake in shares of Popular in the fourth quarter valued at about $83,000. Assetmark Inc. increased its stake in shares of Popular by 55.4% in the third quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock valued at $89,000 after buying an additional 506 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Popular in the fourth quarter valued at about $90,000. 87.27% of the stock is currently owned by institutional investors.

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.