Popular (NASDAQ:BPOP) Given New $110.00 Price Target at Royal Bank of Canada

Popular (NASDAQ:BPOP) had its price objective upped by research analysts at Royal Bank of Canada from $100.00 to $110.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 5.34% from the company’s previous close.

BPOP has been the topic of several other research reports. Wells Fargo & Company raised their price target on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Barclays boosted their price target on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. UBS Group began coverage on shares of Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price target on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Piper Sandler cut their target price on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.63.

Popular Price Performance

Shares of BPOP stock traded up $1.97 on Wednesday, reaching $104.43. 188,883 shares of the company were exchanged, compared to its average volume of 463,884. The company has a 50-day moving average of $97.03 and a 200-day moving average of $97.35. Popular has a one year low of $80.60 and a one year high of $106.46. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.65 and a beta of 0.81.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.35% and a net margin of 12.36%. As a group, sell-side analysts predict that Popular will post 8.41 EPS for the current year.

Insider Buying and Selling at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This represents a 12.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Hedge funds and other institutional investors have recently modified their holdings of the business. Angeles Wealth Management LLC bought a new position in Popular in the fourth quarter worth about $206,000. Wilmington Savings Fund Society FSB grew its position in Popular by 594.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,595 shares of the bank’s stock worth $526,000 after purchasing an additional 4,789 shares during the period. Vest Financial LLC boosted its position in Popular by 80.5% in the fourth quarter. Vest Financial LLC now owns 26,735 shares of the bank’s stock worth $2,515,000 after purchasing an additional 11,927 shares during the last quarter. Yousif Capital Management LLC bought a new position in shares of Popular in the fourth quarter worth about $202,000. Finally, R Squared Ltd bought a new position in Popular in the 4th quarter worth $166,000. 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.