Popular (NASDAQ:BPOP) Price Target Raised to $125.00

Popular (NASDAQ:BPOP) had its price target upped by Keefe, Bruyette & Woods from $122.00 to $125.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Other analysts have also recently issued research reports about the stock. Hovde Group cut their price target on shares of Popular from $118.00 to $114.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays reiterated an “overweight” rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a research note on Thursday. StockNews.com downgraded Popular from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company upgraded Popular from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada boosted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.14.

Popular Stock Performance

BPOP opened at $95.94 on Thursday. The business’s 50-day simple moving average is $91.11 and its 200 day simple moving average is $95.26. Popular has a 52-week low of $78.23 and a 52-week high of $106.81. The firm has a market capitalization of $6.65 billion, a PE ratio of 11.21, a PEG ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.30. The company had revenue of $755.46 million for the quarter, compared to analysts’ expectations of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, research analysts forecast that Popular will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 2.92%. Popular’s payout ratio is currently 28.90%.

Insider Buying and Selling at Popular

In other news, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Proficio Capital Partners LLC bought a new position in Popular during the 4th quarter worth $27,000. Picton Mahoney Asset Management increased its position in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares during the period. Versant Capital Management Inc raised its stake in Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock valued at $76,000 after purchasing an additional 702 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Popular during the third quarter worth about $81,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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.