Popular (NASDAQ:BPOP) Price Target Raised to $163.00

Popular (NASDAQ:BPOP) had its target price hoisted by Wells Fargo & Company from $135.00 to $163.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

A number of other research analysts have also recently commented on the stock. Credit Suisse Group set a $156.00 target price on shares of Popular in a research report on Tuesday, February 3rd. Barclays increased their price objective on shares of Popular from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Citigroup upped their price target on Popular from $161.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods lifted their price objective on Popular from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada boosted their price objective on Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Popular presently has an average rating of “Buy” and a consensus target price of $159.09.

Popular Stock Up 1.7%

BPOP stock opened at $136.44 on Monday. Popular has a 52-week low of $78.23 and a 52-week high of $149.31. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 0.83 and a beta of 0.59. The business has a fifty day moving average of $135.98 and a two-hundred day moving average of $126.10.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, beating the consensus estimate of $3.02 by $0.36. The business had revenue of $806.59 million for the quarter, compared to analyst estimates of $811.55 million. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same quarter in the prior year, the company posted $2.51 EPS. As a group, sell-side analysts anticipate that Popular will post 10.06 EPS for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th were issued a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $3.00 annualized dividend and a yield of 2.2%. Popular’s dividend payout ratio (DPR) is 24.35%.

Insider Buying and Selling

In other news, Director Alejandro M. Sanchez sold 1,451 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $140.85, for a total value of $204,373.35. Following the sale, the director directly owned 3,415 shares in the company, valued at approximately $481,002.75. This trade represents a 29.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alejandro M. Ballester sold 2,360 shares of Popular stock in a transaction on Friday, January 30th. The stock was sold at an average price of $132.50, for a total transaction of $312,700.00. Following the sale, the director directly owned 57,449 shares of the company’s stock, valued at approximately $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Popular

Large investors have recently bought and sold shares of the business. Acumen Wealth Advisors LLC purchased a new stake in Popular during the 4th quarter worth about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Popular during the 4th quarter worth about $28,000. Parallel Advisors LLC increased its holdings in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Popular in the 3rd quarter valued at about $31,000. Finally, True Wealth Design LLC raised its position in shares of Popular by 262.9% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock worth $45,000 after acquiring an additional 255 shares in 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.