Popular (NASDAQ:BPOP) Price Target Raised to $115.00 at Wells Fargo & Company

Popular (NASDAQ:BPOP) had its price target hoisted by Wells Fargo & Company from $105.00 to $115.00 in a report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

BPOP has been the subject of several other reports. StockNews.com upgraded shares of Popular from a sell rating to a hold rating in a report on Wednesday, April 3rd. Piper Sandler upped their price objective on shares of Popular from $96.00 to $105.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Royal Bank of Canada upped their price objective on shares of Popular from $80.00 to $90.00 and gave the stock an outperform rating in a report on Friday, January 26th. UBS Group upped their price objective on shares of Popular from $84.00 to $91.00 and gave the stock a neutral rating in a report on Friday, January 26th. Finally, Hovde Group upped their price objective on shares of Popular from $112.00 to $113.00 and gave the stock an outperform rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Popular currently has an average rating of Moderate Buy and a consensus price target of $99.22.

Popular Stock Up 0.5 %

NASDAQ:BPOP opened at $88.36 on Wednesday. The company has a fifty day moving average of $84.55 and a 200 day moving average of $78.83. Popular has a 52 week low of $52.32 and a 52 week high of $89.70. The firm has a market capitalization of $6.39 billion, a P/E ratio of 13.11 and a beta of 0.82.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.89. Popular had a net margin of 11.95% and a return on equity of 11.95%. The company had revenue of $702.92 million during the quarter, compared to analyst estimates of $699.76 million. As a group, analysts anticipate that Popular will post 8.52 EPS for the current year.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Wednesday, March 13th. Popular’s dividend payout ratio is presently 36.80%.

Insider Transactions at Popular

In related news, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Luis E. Cestero sold 599 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $85.65, for a total transaction of $51,304.35. Following the sale, the executive vice president now directly owns 26,529 shares in the company, valued at $2,272,208.85. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Several institutional investors have recently bought and sold shares of the company. Treasurer of the State of North Carolina grew its position in Popular by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 30,898 shares of the bank’s stock valued at $1,947,000 after purchasing an additional 150 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Popular by 6.7% during the 1st quarter. Wedmont Private Capital now owns 2,729 shares of the bank’s stock valued at $237,000 after acquiring an additional 171 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Popular by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 20,493 shares of the bank’s stock valued at $1,291,000 after acquiring an additional 277 shares during the last quarter. Rock Point Advisors LLC boosted its holdings in shares of Popular by 1.1% during the 3rd quarter. Rock Point Advisors LLC now owns 31,792 shares of the bank’s stock valued at $2,003,000 after acquiring an additional 345 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Popular by 0.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,543 shares of the bank’s stock valued at $7,091,000 after acquiring an additional 367 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Company Profile

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.