Citigroup Issues Positive Forecast for Popular (NASDAQ:BPOP) Stock Price

Popular (NASDAQ:BPOP - Get Free Report) had its target price increased by Citigroup from $133.00 to $142.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. Citigroup's price objective suggests a potential upside of 22.89% from the company's current price.

BPOP has been the subject of several other research reports. Wells Fargo & Company increased their price target on shares of Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Popular in a research report on Monday, June 30th. Piper Sandler raised their target price on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods raised their target price on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Wall Street Zen cut shares of Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Popular presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.88.

Popular Stock Down 0.0%

Shares of Popular stock traded down $0.04 during trading on Thursday, reaching $115.55. The company's stock had a trading volume of 227,079 shares, compared to its average volume of 580,709. Popular has a 52-week low of $78.23 and a 52-week high of $118.54. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.62 and a beta of 0.63. The firm's 50-day moving average is $108.15 and its two-hundred day moving average is $99.82.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. Popular had a net margin of 15.82% and a return on equity of 12.22%. During the same quarter in the prior year, the company posted $2.46 EPS. On average, equities research analysts anticipate that Popular will post 10.06 EPS for the current year.

Insider Activity

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 3,604 shares in the company, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of the transaction, the executive vice president owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. The trade was a 20.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in Popular during the 4th quarter valued at about $27,000. Raymond James Financial Inc. bought a new stake in Popular during the 4th quarter valued at about $3,034,000. Corient Private Wealth LLC increased its stake in Popular by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 13,247 shares of the bank's stock valued at $1,246,000 after purchasing an additional 257 shares in the last quarter. Xponance Inc. increased its stake in Popular by 9.0% during the 4th quarter. Xponance Inc. now owns 3,754 shares of the bank's stock valued at $353,000 after purchasing an additional 311 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Popular by 23.3% during the 4th quarter. Teacher Retirement System of Texas now owns 24,037 shares of the bank's stock valued at $2,261,000 after purchasing an additional 4,550 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

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.

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