Popular (NASDAQ:BPOP) Price Target Raised to $216.00
by Jessica Moore · The Cerbat GemPopular (NASDAQ:BPOP – Free Report) had its price objective increased by Benchmark from $214.00 to $216.00 in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the bank’s stock.
A number of other research firms also recently issued reports on BPOP. Barclays boosted their price target on Popular from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (a-)” rating on shares of Popular in a research note on Friday, July 31st. Wells Fargo & Company raised their price objective on shares of Popular from $180.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Truist Financial raised their price objective on shares of Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Piper Sandler restated an “overweight” rating and set a $198.00 target price (up from $190.00) on shares of Popular in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Popular presently has a consensus rating of “Buy” and an average price target of $187.08.
Check Out Our Latest Stock Report on Popular
Popular Price Performance
BPOP stock opened at $170.57 on Monday. The company has a market cap of $10.88 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.64 and a beta of 0.60. Popular has a 1 year low of $108.74 and a 1 year high of $179.24. The stock’s fifty day moving average price is $171.24 and its 200-day moving average price is $154.03.
Popular (NASDAQ:BPOP – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping the consensus estimate of $3.72 by $0.63. The company had revenue of $846.92 million during the quarter, compared to analyst estimates of $878.41 million. Popular had a return on equity of 15.34% and a net margin of 21.37%.During the same quarter in the previous year, the company posted $3.09 earnings per share. As a group, analysts expect that Popular will post 15.72 earnings per share for the current year.
Popular Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.90 per share. This is a boost from Popular’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, September 10th. Popular’s dividend payout ratio is presently 20.27%.
Insider Buying and Selling at Popular
In other news, VP Adorno Denissa Rodriguez sold 600 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $168.79, for a total value of $101,274.00. Following the transaction, the vice president owned 2,492 shares of the company’s stock, valued at $420,624.68. This trade represents a 19.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Javier D. Ferrer sold 35,000 shares of Popular stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $175.43, for a total value of $6,140,050.00. Following the transaction, the chief executive officer directly owned 96,478 shares in the company, valued at approximately $16,925,135.54. The trade was a 26.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,561 shares of company stock valued at $9,392,259 in the last ninety days. 2.13% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Popular
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its holdings in Popular by 10.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 187,671 shares of the bank’s stock worth $23,369,000 after purchasing an additional 17,148 shares in the last quarter. Geode Capital Management LLC boosted its stake in Popular by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock worth $175,057,000 after purchasing an additional 64,778 shares during the period. UBS Group AG grew its holdings in Popular by 28.1% during the 4th quarter. UBS Group AG now owns 540,646 shares of the bank’s stock valued at $67,321,000 after buying an additional 118,496 shares in the last quarter. Bank of America Corp DE grew its holdings in Popular by 8.2% during the 1st quarter. Bank of America Corp DE now owns 465,720 shares of the bank’s stock valued at $62,486,000 after buying an additional 35,226 shares in the last quarter. Finally, Norges Bank purchased a new stake in Popular during the 4th quarter valued at approximately $104,955,000. 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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