Popular (NASDAQ:BPOP) Price Target Raised to $105.00

Popular (NASDAQ:BPOP - Get Free Report) had its target price hoisted by investment analysts at Piper Sandler from $96.00 to $105.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the bank's stock. Piper Sandler's price objective would indicate a potential upside of 20.88% from the stock's previous close.

BPOP has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their price target on Popular from $95.00 to $103.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. Citigroup upped their price target on Popular from $103.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. Barclays started coverage on Popular in a report on Friday, March 8th. They issued an "overweight" rating and a $99.00 price objective on the stock. UBS Group upped their price objective on Popular from $84.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, January 26th. Finally, StockNews.com upgraded Popular from a "sell" rating to a "hold" rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.63.

Popular Trading Up 1.1 %

NASDAQ:BPOP traded up $0.96 during trading hours on Tuesday, hitting $86.86. 443,167 shares of the stock were exchanged, compared to its average volume of 462,257. The firm's fifty day moving average price is $84.76 and its 200 day moving average price is $77.11. The company has a market cap of $6.28 billion, a P/E ratio of 11.54 and a beta of 0.82. Popular has a 52-week low of $52.32 and a 52-week high of $89.70.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to analyst estimates of $699.76 million. Popular had a return on equity of 12.63% and a net margin of 13.86%. Equities analysts expect that Popular will post 8.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Luis E. Cestero sold 4,641 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares of the company's stock, valued at $2,260,092.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Luis E. Cestero sold 599 shares of the company's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the sale, the executive vice president now owns 26,529 shares of the company's stock, valued at $2,272,208.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Popular

Several large investors have recently bought and sold shares of the business. CWM LLC increased its holdings in Popular by 164.8% in the first quarter. CWM LLC now owns 1,769 shares of the bank's stock valued at $156,000 after buying an additional 1,101 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Popular during the fourth quarter worth about $289,000. Wellington Management Group LLP grew its holdings in shares of Popular by 6.0% during the fourth quarter. Wellington Management Group LLP now owns 3,816,736 shares of the bank's stock worth $313,240,000 after purchasing an additional 216,855 shares during the last quarter. Covenant Partners LLC purchased a new position in shares of Popular during the fourth quarter worth about $221,000. Finally, Quarry LP grew its holdings in shares of Popular by 95.9% during the fourth quarter. Quarry LP now owns 337 shares of the bank's stock worth $28,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Company Profile

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.