Popular (NASDAQ:BPOP) Price Target Cut to $100.00

Popular (NASDAQ:BPOP) had its price objective reduced by Piper Sandler from $112.00 to $100.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

BPOP has been the topic of several other research reports. Wells Fargo & Company downgraded shares of Popular from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $115.00 to $105.00 in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Barclays lowered their price target on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada increased their price objective on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Hovde Group lifted their target price on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

Popular Trading Down 0.6 %

Shares of BPOP opened at $88.46 on Thursday. Popular has a 12 month low of $61.99 and a 12 month high of $105.01. The stock has a fifty day moving average price of $98.34 and a 200-day moving average price of $93.10. The firm has a market cap of $6.39 billion, a PE ratio of 13.12, a P/E/G ratio of 0.66 and a beta of 0.78.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a net margin of 12.20% and a return on equity of 11.73%. The business had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. During the same quarter last year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Popular will post 8.74 EPS for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.80%. Popular’s payout ratio is 36.80%.

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the sale, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in shares of Popular during the 3rd quarter worth about $29,000. Headlands Technologies LLC acquired a new stake in Popular in the first quarter valued at approximately $42,000. Mather Group LLC. purchased a new stake in shares of Popular in the second quarter valued at approximately $44,000. Meeder Asset Management Inc. acquired a new position in shares of Popular during the 2nd quarter worth approximately $48,000. Finally, GAMMA Investing LLC lifted its position in shares of Popular by 16.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

About Popular

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.