Popular (NASDAQ:BPOP) Given New $132.00 Price Target at Keefe, Bruyette & Woods

Popular (NASDAQ:BPOP - Get Free Report) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $125.00 to $132.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 14.04% from the company's previous close.

BPOP has been the subject of a number of other reports. Hovde Group increased their price target on Popular from $126.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday. Barclays increased their price objective on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday. UBS Group reissued a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Finally, Piper Sandler increased their price objective on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.88.

Popular Stock Performance

Shares of Popular stock traded up $0.16 on Thursday, hitting $115.75. The company had a trading volume of 217,654 shares, compared to its average volume of 580,633. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.62 and a beta of 0.63. Popular has a 1 year low of $78.23 and a 1 year high of $118.54. The stock has a 50 day moving average of $108.15 and a 200-day moving average of $99.82.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. The company had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. Popular had a return on equity of 12.22% and a net margin of 15.82%. During the same period last year, the business posted $2.46 earnings per share. Equities analysts anticipate that Popular will post 10.06 earnings per share for the current year.

Insider Activity at Popular

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the transaction, the vice president directly owned 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company's stock.

Hedge Funds Weigh In On Popular

Several institutional investors and hedge funds have recently bought and sold shares of BPOP. Vanguard Group Inc. lifted its position in shares of Popular by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock valued at $873,519,000 after acquiring an additional 56,222 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Popular by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after acquiring an additional 201,067 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Popular by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank's stock valued at $329,674,000 after acquiring an additional 34,322 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Popular by 1.7% in the first quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank's stock valued at $179,243,000 after acquiring an additional 32,078 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Popular by 4.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,485,141 shares of the bank's stock valued at $137,182,000 after acquiring an additional 66,412 shares in the last quarter. 87.27% of the stock is currently 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.

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