Popular, Inc. (NASDAQ:BPOP) Receives $128.88 Average PT from Brokerages

Key Points

• Popular, Inc. has received a consensus recommendation of “Moderate Buy” from eight analysts, with an average price target of $128.88 for the next 12 months.
• The company's stock experienced a 1.1% decrease in trading, reaching $118.00, while recording a market cap of $7.97 billion.
• Popular reported $3.09 earnings per share for the last quarter, exceeding analysts' expectations, alongside revenues of $800 million.

Popular, Inc. (NASDAQ:BPOP - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $128.8750.

Several research analysts have weighed in on BPOP shares. UBS Group restated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Piper Sandler boosted their target price on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their target price on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Barclays increased their price objective on shares of Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th.

Popular Trading Up 0.6%

NASDAQ BPOP traded up $0.70 on Friday, reaching $118.91. 138,121 shares of the stock were exchanged, compared to its average volume of 558,421. Popular has a one year low of $78.23 and a one year high of $119.54. The firm has a market capitalization of $8.04 billion, a PE ratio of 11.52, a PEG ratio of 0.61 and a beta of 0.65. The company's 50-day simple moving average is $112.31 and its two-hundred day simple moving average is $101.93.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same period in the prior year, the company posted $2.46 earnings per share. Sell-side analysts forecast that Popular will post 10.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction of $728,980.00. Following the transaction, the executive vice president owned 27,382 shares in the company, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.23% of the company's stock.

Hedge Funds Weigh In On Popular

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPOP. LPL Financial LLC raised its position in shares of Popular by 31.2% during the 4th quarter. LPL Financial LLC now owns 7,245 shares of the bank's stock worth $681,000 after purchasing an additional 1,722 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Popular in the fourth quarter valued at approximately $3,034,000. Treasurer of the State of North Carolina boosted its stake in shares of Popular by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock worth $2,949,000 after acquiring an additional 190 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Popular by 51.4% during the fourth quarter. Sterling Capital Management LLC now owns 4,031 shares of the bank's stock worth $379,000 after purchasing an additional 1,368 shares in the last quarter. Finally, Barclays PLC raised its stake in Popular by 30.7% in the 4th quarter. Barclays PLC now owns 78,556 shares of the bank's stock valued at $7,390,000 after purchasing an additional 18,457 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

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.