Popular (NASDAQ:BPOP - Get Free Report) had its price objective increased by analysts at Citigroup from $192.00 to $193.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the bank's stock. Citigroup's target price would indicate a potential upside of 20.08% from the stock's current price.
BPOP has been the topic of a number of other reports. Benchmark raised their target price on shares of Popular from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Monday, August 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $190.00 price target (down from $198.00) on shares of Popular in a report on Monday. Keefe, Bruyette & Woods increased their price target on Popular from $190.00 to $207.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Popular in a research report on Friday, July 31st. Finally, Barclays upped their target price on Popular from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $186.83.
Read Our Latest Stock Analysis on BPOP
Popular Trading Up 0.9%
BPOP traded up $1.48 on Monday, reaching $160.72. The stock had a trading volume of 156,201 shares, compared to its average volume of 524,812. Popular has a 12-month low of $108.74 and a 12-month high of $179.24. The business's 50-day moving average price is $163.14 and its two-hundred day moving average price is $160.52. The company has a market cap of $10.25 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.63.
Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Thursday, October 22nd. The bank reported $4.21 earnings per share (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 16.08%. The business had revenue of $874.59 million for the quarter, compared to analyst estimates of $904.43 million. During the same period in the prior year, the company posted $3.14 EPS. As a group, analysts predict that Popular will post 15.70 earnings per share for the current year.
Insiders Place Their Bets
In other news, VP Adorno Rodriguez sold 600 shares of the firm's stock in a transaction on Monday, August 24th. The stock was 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 in the company, valued at $420,624.68. This trade represents a 19.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Javier D. Ferrer sold 35,000 shares of Popular stock in a transaction on Monday, August 10th. The shares were sold at an average price of $175.43, for a total value of $6,140,050.00. Following the completion of the sale, the chief executive officer directly owned 96,478 shares of the company's stock, valued at $16,925,135.54. The trade was a 26.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 53,561 shares of company stock worth $9,392,259. Insiders own 2.13% of the company's stock.
Hedge Funds Weigh In On Popular
Institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC lifted its stake in shares of Popular by 4.5% in the 3rd quarter. Yousif Capital Management LLC now owns 1,569 shares of the bank's stock valued at $244,000 after purchasing an additional 67 shares during the period. Versant Capital Management Inc grew its stake in Popular by 3.1% during the third quarter. Versant Capital Management Inc now owns 2,309 shares of the bank's stock worth $359,000 after purchasing an additional 69 shares during the period. Parallel Advisors LLC grew its stake in Popular by 30.5% during the first quarter. Parallel Advisors LLC now owns 321 shares of the bank's stock worth $43,000 after purchasing an additional 75 shares during the period. IFP Advisors Inc increased its holdings in Popular by 5.7% in the second quarter. IFP Advisors Inc now owns 1,458 shares of the bank's stock worth $239,000 after purchasing an additional 79 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Popular by 1.2% in the first quarter. Gamco Investors INC. ET AL now owns 7,262 shares of the bank's stock worth $974,000 after purchasing an additional 84 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
About Popular
(
Get Free Report)
Popular, Inc NASDAQ: BPOP is a financial services company headquartered in San Juan, Puerto Rico. Its principal subsidiary, Banco Popular de Puerto Rico, provides banking services to individuals, businesses and institutions, including deposit accounts, consumer and commercial loans, residential mortgages, credit cards and electronic banking services.
The company also offers investment, brokerage, insurance and wealth management services through specialized subsidiaries and affiliated businesses.
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