Popular (NASDAQ:BPOP) PT Raised to $105.00 at Barclays

Popular (NASDAQ:BPOP - Free Report) had its price target hoisted by Barclays from $99.00 to $105.00 in a research report released on Thursday, Benzinga reports. Barclays currently has an overweight rating on the bank's stock.

BPOP has been the topic of several other research reports. Piper Sandler raised their price objective on Popular from $96.00 to $105.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Royal Bank of Canada upped their price target on shares of Popular from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, January 26th. Hovde Group raised their price objective on shares of Popular from $112.00 to $113.00 and gave the company an outperform rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Popular from $105.00 to $115.00 and gave the stock an overweight rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods reissued an outperform rating and set a $110.00 price target (up from $103.00) on shares of Popular in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Popular has an average rating of Moderate Buy and an average price target of $99.89.

Popular Stock Down 0.5 %

BPOP traded down $0.43 during trading on Thursday, hitting $87.93. The company's stock had a trading volume of 218,003 shares, compared to its average volume of 449,720. The business's 50 day simple moving average is $84.58 and its 200-day simple moving average is $78.90. The firm has a market cap of $6.36 billion, a PE ratio of 13.05 and a beta of 0.82. Popular has a one year low of $52.32 and a one year high of $89.70.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.89. The company had revenue of $702.92 million for the quarter, compared to analysts' expectations of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. Equities research analysts expect that Popular will post 8.52 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were given a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.82%. Popular's dividend payout ratio is currently 36.80%.

Insider Buying and Selling at Popular

In related news, EVP Luis E. Cestero sold 4,641 shares of the firm's 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 of the company's stock, valued at $2,260,092.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the company's stock in a transaction that occurred 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 directly owns 26,772 shares in the company, valued at $2,260,092.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Luis E. Cestero sold 599 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company's stock, valued at $2,272,208.85. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Popular

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Popular in the fourth quarter worth approximately $44,000. Principal Securities Inc. purchased a new stake in Popular in the fourth quarter worth $83,000. Assetmark Inc. lifted its position in shares of Popular by 55.4% during the third quarter. Assetmark Inc. now owns 1,420 shares of the bank's stock worth $89,000 after purchasing an additional 506 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Popular during the fourth quarter valued at $90,000. Finally, Clear Street Markets LLC purchased a new stake in shares of Popular during the fourth quarter valued at $139,000. 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.