Popular (NASDAQ:BPOP) PT Raised to $105.00 at Barclays

Popular (NASDAQ:BPOP) had its target price lifted by analysts at Barclays from $99.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 20.22% from the company’s previous close.

A number of other brokerages also recently issued reports on BPOP. StockNews.com upgraded shares of Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Hovde Group raised their price objective on Popular from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group increased their price target on shares of Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Citigroup lifted their target price on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Wells Fargo & Company lifted their target price on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.89.

Popular Price Performance

Shares of BPOP stock traded down $1.02 during trading hours on Thursday, hitting $87.34. The company had a trading volume of 81,709 shares, compared to its average volume of 447,957. Popular has a fifty-two week low of $52.32 and a fifty-two week high of $89.70. The company’s fifty day moving average is $84.55 and its 200 day moving average is $78.83. The stock has a market capitalization of $6.31 billion, a PE ratio of 12.91 and a beta of 0.82.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.89. The business had revenue of $702.92 million for the quarter, compared to analyst estimates of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. Equities analysts forecast that Popular will post 8.52 earnings per share for the current year.

Insider Buying and Selling at Popular

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now 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 available through the SEC website. Also, EVP Luis E. Cestero sold 599 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Popular

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new stake in shares of Popular in the fourth quarter valued at about $44,000. Principal Securities Inc. acquired a new position in Popular during the fourth quarter worth $83,000. Assetmark Inc. increased its stake in Popular by 55.4% in the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock valued at $89,000 after buying an additional 506 shares during the last quarter. GAMMA Investing LLC bought a new stake in Popular during the 4th quarter worth about $90,000. Finally, Clear Street Markets LLC bought a new stake in Popular during the 4th quarter worth about $139,000. Institutional investors own 87.27% of the company’s stock.

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.