Popular (NASDAQ:BPOP) Reaches New 52-Week High – Should You Buy?

Popular, Inc. (NASDAQ:BPOP) reached a new 52-week high on Monday . The stock traded as high as $149.58 and last traded at $149.3960, with a volume of 56539 shares trading hands. The stock had previously closed at $146.90.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BPOP shares. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a report on Wednesday, January 21st. Royal Bank Of Canada boosted their price objective on shares of Popular from $137.00 to $141.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Bank of America upgraded shares of Popular from a “neutral” rating to a “buy” rating and set a $156.00 target price on the stock in a research note on Tuesday, February 3rd. Hovde Group lifted their target price on shares of Popular from $153.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Popular has an average rating of “Moderate Buy” and a consensus price target of $161.18.

Popular Price Performance

The firm has a 50 day moving average of $138.24 and a 200-day moving average of $127.85. The stock has a market capitalization of $9.66 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.59.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.36. The company had revenue of $806.59 million during the quarter, compared to the consensus estimate of $811.55 million. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same quarter last year, the company earned $2.51 EPS. As a group, equities analysts expect that Popular, Inc. will post 14.32 earnings per share for the current year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 18th. This represents a $3.00 annualized dividend and a yield of 2.0%. Popular’s dividend payout ratio is 24.35%.

Insider Transactions at Popular

In related news, Director Alejandro M. Ballester sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $132.50, for a total value of $312,700.00. Following the completion of the sale, the director owned 57,449 shares of the company’s stock, valued at $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alejandro M. Sanchez sold 1,451 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $140.85, for a total value of $204,373.35. Following the sale, the director owned 3,415 shares of the company’s stock, valued at approximately $481,002.75. The trade was a 29.82% decrease in their position. The SEC filing for this sale provides additional information. 2.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Acumen Wealth Advisors LLC acquired a new stake in Popular during the 4th quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Popular in the fourth quarter valued at about $28,000. Parallel Advisors LLC boosted its holdings in Popular by 70.8% during the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after buying an additional 102 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Popular during the 3rd quarter worth about $31,000. Finally, True Wealth Design LLC increased its stake in shares of Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after acquiring an additional 255 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

About Popular

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.