Popular (NASDAQ:BPOP) Price Target Raised to $115.00

by · The Cerbat Gem

Popular (NASDAQ:BPOP – Free Report) had its price target lifted by Barclays from $110.00 to $115.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company increased their price target on shares of Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada dropped their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Piper Sandler reduced their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. UBS Group started coverage on Popular in a report on Tuesday. They set a “neutral” rating and a $104.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $108.25.

View Our Latest Report on BPOP

Popular Trading Up 1.2 %

Popular stock opened at $91.66 on Friday. The company has a fifty day simple moving average of $96.10 and a 200-day simple moving average of $95.32. The stock has a market cap of $6.54 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. Popular has a 12-month low of $79.01 and a 12-month high of $105.01.

Popular (NASDAQ:BPOP – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The business had revenue of $736.56 million for the quarter, compared to analysts’ expectations of $766.62 million. During the same period last year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that Popular will post 8.46 earnings per share for the current fiscal year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is currently 38.04%.

Insider Buying and Selling at Popular

In related news, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This trade represents a 12.23 % 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 link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now owns 3,332 shares in the company, valued at $325,569.72. The trade was a 35.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

A number of institutional investors have recently modified their holdings of BPOP. Financial Management Professionals Inc. purchased a new position in Popular in the third quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in shares of Popular during the 3rd quarter worth $35,000. Brooklyn Investment Group purchased a new position in shares of Popular in the 3rd quarter valued at about $47,000. Meeder Asset Management Inc. acquired a new stake in shares of Popular in the second quarter valued at about $48,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Popular in the third quarter valued at about $81,000. 87.27% of the stock is currently owned by hedge funds and other 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.

See Also