Popular (NASDAQ:BPOP) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on Popular (NASDAQ:BPOP) from $172 to $192 and kept a buy rating, implying about 14.22% upside from the prior close.
• Other analysts were also broadly positive: Wells Fargo and Barclays lifted their targets, and MarketBeat shows an overall Buy consensus with an average price target of $175.73.
• Popular’s stock fell 1.4% to $168.10 on the day, though the company recently beat quarterly EPS estimates; insiders have also sold shares recently, while institutional investors own 87.27% of the stock.

Popular (NASDAQ:BPOP - Get Free Report) had its target price boosted by equities research analysts at Truist Financial from $172.00 to $192.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the bank's stock. Truist Financial's target price points to a potential upside of 14.22% from the company's previous close.

A number of other research analysts also recently commented on BPOP. Wells Fargo & Company increased their price target on shares of Popular from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Barclays upped their price objective on Popular from $180.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Zacks Research lowered Popular from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Keefe, Bruyette & Woods lifted their target price on Popular from $155.00 to $177.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada boosted their target price on Popular from $141.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $175.73.

Popular Trading Down 1.4%

BPOP traded down $2.46 during trading hours on Monday, hitting $168.10. The company's stock had a trading volume of 125,674 shares, compared to its average volume of 546,052. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 0.92 and a beta of 0.61. The business's 50-day moving average price is $156.02 and its 200-day moving average price is $142.96. Popular has a 12 month low of $108.74 and a 12 month high of $171.98.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, beating the consensus estimate of $3.30 by $0.48. Popular had a net margin of 20.10% and a return on equity of 14.53%. The business had revenue of $816.08 million during the quarter, compared to analyst estimates of $866.54 million. During the same quarter last year, the business earned $2.56 earnings per share. On average, analysts forecast that Popular will post 15 earnings per share for the current year.

Insiders Place Their Bets

In other Popular news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $148.51, for a total value of $920,762.00. Following the completion of the sale, the executive vice president owned 11,255 shares of the company's stock, valued at $1,671,480.05. This trade represents a 35.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alejandro M. Sanchez sold 300 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the transaction, the director owned 3,960 shares of the company's stock, valued at $595,425.60. This trade represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,500 shares of company stock valued at $4,415,870 over the last 90 days. Insiders own 2.13% of the company's stock.

Hedge Funds Weigh In On Popular

A number of large investors have recently bought and sold shares of BPOP. Acumen Wealth Advisors LLC purchased a new stake in Popular in the fourth quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Popular during the fourth quarter valued at $28,000. Parallel Advisors LLC grew its holdings in shares of Popular by 70.8% in the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank's stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Popular in the third quarter worth about $31,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Popular in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company's product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.

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