Popular (NASDAQ:BPOP) Stock Price Expected to Rise, Barclays Analyst Says

Popular (NASDAQ:BPOP - Get Free Report) had its price target increased by equities researchers at Barclays from $125.00 to $140.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Barclays's price objective suggests a potential upside of 23.08% from the stock's current price.

Several other research firms have also issued reports on BPOP. Wall Street Zen lowered shares of Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $110.00 to $100.00 in a report on Wednesday, April 9th. Keefe, Bruyette & Woods boosted their price target on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Hovde Group boosted their price target on shares of Popular from $114.00 to $126.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Finally, Piper Sandler boosted their price target on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $123.29.

Popular Stock Performance

BPOP stock traded down $0.02 during mid-day trading on Tuesday, hitting $113.75. The company had a trading volume of 177,879 shares, compared to its average volume of 536,700. The firm has a market cap of $7.79 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63. Popular has a 12 month low of $78.23 and a 12 month high of $115.96. The stock's fifty day moving average price is $105.45 and its two-hundred day moving average price is $98.45.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.30. Popular had a net margin of 15.82% and a return on equity of 12.22%. The company had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The company's quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Popular will post 10.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Adorno Denissa Rodriguez sold 500 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president owned 3,604 shares of the company's stock, valued at approximately $376,365.72. This represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of the sale, the executive vice president directly owned 27,382 shares of the company's stock, valued at $2,851,561.48. This trade represents a 20.36% 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 Investors Weigh In On Popular

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Popular by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock valued at $873,519,000 after buying an additional 56,222 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Popular by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after buying an additional 201,067 shares during the period. Dimensional Fund Advisors LP boosted its position in Popular by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank's stock valued at $329,674,000 after buying an additional 34,322 shares during the period. Wellington Management Group LLP boosted its position in Popular by 1.7% during the 1st quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank's stock valued at $179,243,000 after buying an additional 32,078 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Popular by 4.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,485,141 shares of the bank's stock valued at $137,182,000 after buying an additional 66,412 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.

About Popular

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.