Popular (NASDAQ:BPOP) Price Target Raised to $164.00

Popular (NASDAQ:BPOP) had its price target upped by Truist Financial from $153.00 to $164.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the bank’s stock.

BPOP has been the topic of several other research reports. Royal Bank Of Canada boosted their target price on Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays boosted their price objective on shares of Popular from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday. Zacks Research lowered shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Hovde Group upped their price target on shares of Popular from $153.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Popular presently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $133.53 on Thursday. Popular has a 52-week low of $78.23 and a 52-week high of $134.27. The company has a 50-day simple moving average of $123.66 and a 200 day simple moving average of $120.68. The company has a market capitalization of $8.90 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.55 and a beta of 0.63.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.36. Popular had a return on equity of 13.87% and a net margin of 18.75%.The company had revenue of $815.98 million for the quarter, compared to analysts’ expectations of $811.55 million. During the same period in the previous year, the firm posted $2.51 earnings per share. As a group, equities analysts forecast that Popular will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Popular’s dividend payout ratio (DPR) is currently 24.35%.

Insider Activity

In other news, Director Richard L. Carrion sold 25,000 shares of Popular stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the completion of the sale, the director owned 193,020 shares of the company’s stock, valued at approximately $21,907,770. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $114.84, for a total value of $114,840.00. Following the completion of the transaction, the vice president directly owned 2,604 shares in the company, valued at approximately $299,043.36. This trade represents a 27.75% decrease in their position. The SEC filing for this sale provides additional information. 2.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Popular

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Popular during the third quarter valued at $31,000. Allworth Financial LP grew its holdings in Popular by 2,158.8% during the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after acquiring an additional 367 shares in the last quarter. True Wealth Design LLC increased its position in Popular by 262.9% during the 3rd 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 period. Farther Finance Advisors LLC raised its holdings in shares of Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Popular by 3,925.0% in the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after purchasing an additional 471 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

About Popular

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.