Popular (NASDAQ:BPOP - Get Free Report) had its target price increased by equities research analysts at Hovde Group from $126.00 to $140.00 in a research report issued on Thursday, Marketbeat reports. The firm currently has an "outperform" rating on the bank's stock. Hovde Group's target price indicates a potential upside of 21.41% from the stock's previous close.
BPOP has been the topic of several other reports. UBS Group reaffirmed a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Piper Sandler increased their price objective on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company raised their price target on shares of Popular from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Popular has a consensus rating of "Moderate Buy" and a consensus price target of $128.88.
View Our Latest Research Report on Popular
Popular Stock Performance
NASDAQ BPOP traded down $0.02 during mid-day trading on Thursday, reaching $115.31. 341,909 shares of the stock were exchanged, compared to its average volume of 580,531. The business's 50 day moving average is $108.56 and its 200-day moving average is $100.18. Popular has a 1 year low of $78.23 and a 1 year high of $118.54. The company has a market capitalization of $7.90 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.62 and a beta of 0.63.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.60%. The firm had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. During the same period in the prior year, the firm posted $2.46 earnings per share. Equities analysts predict that Popular will post 10.06 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $2,851,561.48. This trade represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 2.23% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Popular
Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC acquired a new stake in shares of Popular during the fourth quarter valued at about $27,000. Steph & Co. purchased a new position in shares of Popular in the second quarter valued at approximately $39,000. Farther Finance Advisors LLC boosted its stake in shares of Popular by 112.2% in the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank's stock valued at $46,000 after purchasing an additional 221 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Popular in the first quarter valued at approximately $47,000. Finally, IFP Advisors Inc boosted its stake in shares of Popular by 3,925.0% in the second quarter. IFP Advisors Inc now owns 483 shares of the bank's stock valued at $53,000 after purchasing an additional 471 shares during the period. 87.27% of the stock is currently owned by institutional investors and hedge funds.
About Popular
(
Get Free Report)
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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