Popular (NASDAQ:BPOP - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $110.00 price objective on the bank's stock, up from their prior price objective of $103.00. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 24.49% from the stock's previous close.
A number of other brokerages have also recently commented on BPOP. StockNews.com upgraded shares of Popular from a "sell" rating to a "hold" rating in a research report on Wednesday, April 3rd. Hovde Group upped their price objective on shares of Popular from $112.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler upped their price objective on shares of Popular from $96.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, April 9th. Citigroup upped their price objective on shares of Popular from $103.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Finally, Royal Bank of Canada lifted their price target on shares of Popular from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $99.22.
Get Our Latest Stock Report on BPOP
Popular Price Performance
NASDAQ:BPOP traded up $0.48 during trading hours on Wednesday, hitting $88.36. 446,720 shares of the company were exchanged, compared to its average volume of 452,653. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 11.61 and a beta of 0.82. Popular has a 52-week low of $52.32 and a 52-week high of $89.70. The company's 50 day moving average price is $84.45 and its 200-day moving average price is $78.77.
Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.89. The firm had revenue of $702.92 million during the quarter, compared to analysts' expectations of $699.76 million. Popular had a net margin of 13.86% and a return on equity of 12.63%. On average, equities analysts predict that Popular will post 8.52 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP Luis E. Cestero sold 599 shares of Popular 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 transaction, the executive vice president now owns 26,529 shares in the company, valued at $2,272,208.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Luis E. Cestero sold 4,641 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the sale, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Luis E. Cestero sold 599 shares of the business's stock in a transaction that occurred 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 approximately $2,272,208.85. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.
Institutional Trading of Popular
Several institutional investors have recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new stake in Popular in the 4th quarter valued at $44,000. Principal Securities Inc. purchased a new stake in Popular in the 4th quarter valued at $83,000. Assetmark Inc. raised its position in Popular by 55.4% in the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank's stock valued at $89,000 after purchasing an additional 506 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Popular in the 4th quarter valued at $90,000. Finally, Clear Street Markets LLC acquired a new position in Popular in the 4th quarter valued at $139,000. Hedge funds and other institutional investors own 87.27% of the company's stock.
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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