Benchmark Boosts Popular (NASDAQ:BPOP) Price Target to $214.00

Popular (NASDAQ:BPOPGet Free Report) had its target price upped by investment analysts at Benchmark from $201.00 to $214.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Benchmark’s price target would suggest a potential upside of 25.23% from the company’s current price.

Several other analysts also recently weighed in on the company. Truist Financial lifted their target price on Popular from $172.00 to $192.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Piper Sandler raised their price target on Popular from $173.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Popular from $155.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, UBS Group increased their target price on shares of Popular from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $179.33.

View Our Latest Report on Popular

Popular Trading Down 1.7%

Shares of NASDAQ:BPOP opened at $170.88 on Friday. The firm’s 50 day moving average is $160.35 and its two-hundred day moving average is $145.87. Popular has a 52 week low of $108.74 and a 52 week high of $175.12. The firm has a market capitalization of $11.03 billion, a P/E ratio of 12.62, a PEG ratio of 0.94 and a beta of 0.61.

Popular (NASDAQ:BPOPGet Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.66. Popular had a return on equity of 14.53% and a net margin of 20.10%.The business had revenue of $846.92 million during the quarter, compared to the consensus estimate of $865.61 million. During the same period in the previous year, the firm posted $3.09 earnings per share. Analysts predict that Popular will post 15.05 EPS for the current year.

Insider Transactions at Popular

In other Popular news, Director Alejandro M. Ballester sold 23,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $150.00, for a total value of $3,450,000.00. Following the completion of the transaction, the director directly owned 34,588 shares in the company, valued at $5,188,200. This trade represents a 39.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the company’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 transaction of $920,762.00. Following the completion of the sale, the executive vice president owned 11,255 shares of the company’s stock, valued at approximately $1,671,480.05. This trade represents a 35.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,500 shares of company stock valued at $4,415,870 in the last three months. 2.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Acumen Wealth Advisors LLC purchased a new position in Popular during the 4th quarter valued at about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Popular in the fourth quarter worth approximately $28,000. Parallel Advisors LLC lifted its position in shares of Popular by 70.8% in the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Popular during the third quarter worth approximately $31,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Popular during the fourth quarter worth approximately $50,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular News Roundup

Here are the key news stories impacting Popular this week:

About Popular

(Get Free Report)

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.

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Analyst Recommendations for Popular (NASDAQ:BPOP)

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