Truist Financial Issues Positive Forecast for Popular (NASDAQ:BPOP) Stock Price

Popular (NASDAQ:BPOP) had its price target increased by equities research analysts at Truist Financial from $172.00 to $192.00 in a research report issued to clients and investors 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 stock’s previous close.

A number of other equities analysts also recently issued reports on BPOP. Wells Fargo & Company increased their price target on Popular from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Weiss Ratings upgraded Popular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 4th. Barclays upped their price objective on shares of Popular from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Royal Bank Of Canada raised their target price on shares of Popular from $141.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $175.73.

Popular Trading Down 1.4%

Shares of NASDAQ BPOP traded down $2.46 during trading hours on Monday, reaching $168.10. The stock had a trading volume of 125,674 shares, compared to its average volume of 546,052. Popular has a 52-week low of $108.74 and a 52-week high of $171.98. The firm 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 fifty day moving average price is $156.02 and its two-hundred day moving average price is $142.96.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, topping the consensus estimate of $3.30 by $0.48. The company had revenue of $816.08 million for the quarter, compared to the consensus estimate of $866.54 million. Popular had a return on equity of 14.53% and a net margin of 20.10%.During the same period last year, the business posted $2.56 EPS. Equities research analysts anticipate that Popular will post 15 earnings per share for the current fiscal year.

Insider Transactions at Popular

In other Popular news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm’s stock in a transaction that occurred on 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 directly owned 11,255 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alejandro M. Sanchez sold 300 shares of the firm’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 transaction of $45,108.00. Following the completion of the sale, the director owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,500 shares of company stock valued at $4,415,870 in the last 90 days. Insiders own 2.13% of the company’s stock.

Institutional Trading of Popular

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Popular by 30.5% in the 1st quarter. Parallel Advisors LLC now owns 321 shares of the bank’s stock worth $43,000 after purchasing an additional 75 shares in the last quarter. Xponance LLC boosted its holdings in Popular by 2.1% in the fourth quarter. Xponance LLC now owns 3,892 shares of the bank’s stock worth $485,000 after acquiring an additional 80 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Popular by 1.2% during the first quarter. Gamco Investors INC. ET AL now owns 7,262 shares of the bank’s stock worth $974,000 after acquiring an additional 84 shares during the last quarter. Severin Investments LLC increased its holdings in shares of Popular by 1.9% during the first quarter. Severin Investments LLC now owns 4,799 shares of the bank’s stock valued at $644,000 after acquiring an additional 91 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Popular by 1.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,693 shares of the bank’s stock valued at $764,000 after purchasing an additional 95 shares during the last quarter. 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.