Popular (NASDAQ:BPOP - Get Free Report) had its price target boosted by investment analysts at Wells Fargo & Company from $135.00 to $140.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Wells Fargo & Company's price objective suggests a potential upside of 21.38% from the company's previous close.
Other research analysts have also issued research reports about the company. Hovde Group boosted their price target on Popular from $126.00 to $140.00 and gave the stock an "outperform" rating in a research report on Thursday. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a report on Monday, June 30th. Keefe, Bruyette & Woods boosted their target price on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler boosted their target price on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Finally, UBS Group reiterated a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $126.00.
Read Our Latest Analysis on BPOP
Popular Price Performance
Shares of Popular stock traded down $0.25 during trading hours on Thursday, hitting $115.35. The company had a trading volume of 162,756 shares, compared to its average volume of 580,180. The company's 50-day moving average is $108.15 and its two-hundred day moving average is $99.82. The company has a market cap of $7.90 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. Popular has a twelve month low of $78.23 and a twelve month high of $118.54.
Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.22% and a net margin of 15.82%. The company had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. During the same quarter in the prior year, the company earned $2.46 EPS. Sell-side analysts expect that Popular will post 10.06 EPS for the current year.
Insider Buying and Selling
In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 3,604 shares of the company's stock, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of the sale, the executive vice president 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 disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.
Hedge Funds Weigh In On Popular
Large investors have recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in Popular in the fourth quarter worth $27,000. Steph & Co. bought a new position in shares of Popular in the second quarter worth about $39,000. Farther Finance Advisors LLC boosted its position in Popular by 112.2% during the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank's stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Popular in the first quarter worth about $47,000. Finally, Versant Capital Management Inc boosted its holdings in Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after acquiring an additional 702 shares in the last quarter. 87.27% of the stock is owned by institutional investors.
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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