Popular (NASDAQ:BPOP) Price Target Raised to $177.00

Popular (NASDAQ:BPOPGet Free Report) had its price target boosted by investment analysts at Keefe, Bruyette & Woods from $155.00 to $177.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 19.59% from the stock’s previous close.

BPOP has been the topic of a number of other reports. Truist Financial increased their price target on Popular from $153.00 to $164.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Bank of America upgraded Popular from a “neutral” rating to a “buy” rating and set a $156.00 price target on the stock in a research report on Tuesday, February 3rd. Barclays increased their price target on Popular from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Royal Bank Of Canada increased their price objective on Popular from $141.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company increased their price objective on Popular from $135.00 to $163.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Popular currently has a consensus rating of “Moderate Buy” and an average target price of $168.00.

Check Out Our Latest Report on Popular

Popular Stock Performance

Shares of Popular stock traded down $1.27 on Friday, reaching $148.00. 113,443 shares of the company were exchanged, compared to its average volume of 560,924. The company’s 50-day moving average is $138.44 and its two-hundred day moving average is $128.14. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 0.78 and a beta of 0.59. Popular has a 1-year low of $92.93 and a 1-year high of $151.99.

Popular (NASDAQ:BPOPGet Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.48. The business had revenue of $822.63 million for the quarter, compared to analysts’ expectations of $866.54 million. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same period in the prior year, the firm earned $2.56 EPS. As a group, sell-side analysts forecast that Popular will post 14.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alejandro M. Ballester sold 2,360 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $132.50, for a total value of $312,700.00. Following the completion of the sale, the director owned 57,449 shares of the company’s stock, valued at $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alejandro M. Sanchez sold 1,451 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $140.85, for a total value of $204,373.35. Following the completion of the sale, the director directly owned 3,415 shares of the company’s stock, valued at approximately $481,002.75. This trade represents a 29.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.13% of the company’s stock.

Institutional Trading of Popular

Hedge funds and other institutional investors have recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in shares of Popular during the fourth quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Popular during the fourth quarter valued at about $28,000. Parallel Advisors LLC raised its holdings in Popular by 70.8% during the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after buying an additional 102 shares in the last quarter. Advisory Services Network LLC bought a new position in Popular during the third quarter valued at about $31,000. Finally, True Wealth Design LLC grew its holdings in Popular by 262.9% during the third quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Popular

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Popular Company Profile

(Get Free Report)

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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Analyst Recommendations for Popular (NASDAQ:BPOP)

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