Popular (NASDAQ:BPOP) Price Target Raised to $216.00

Popular (NASDAQ:BPOP) had its price objective upped by Benchmark from $214.00 to $216.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Benchmark’s target price would indicate a potential upside of 27.25% from the company’s current price.

Several other equities analysts also recently commented on BPOP. Royal Bank Of Canada boosted their target price on shares of Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wells Fargo & Company raised their target price on shares of Popular from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Citigroup boosted their price target on shares of Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Truist Financial increased their price objective on shares of Popular from $192.00 to $197.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Barclays raised their price objective on Popular from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $187.08.

Popular Price Performance

Shares of Popular stock opened at $169.75 on Monday. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.65 and a beta of 0.61. The stock’s 50-day simple moving average is $170.99 and its 200-day simple moving average is $153.53. Popular has a 52 week low of $108.74 and a 52 week high of $179.24.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%.The company had revenue of $846.92 million for the quarter, compared to analysts’ expectations of $878.41 million. During the same period in the previous year, the firm earned $3.09 EPS. On average, equities analysts expect that Popular will post 15.72 earnings per share for the current year.

Insider Activity at Popular

In related news, CEO Javier D. Ferrer sold 35,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $175.43, for a total transaction of $6,140,050.00. Following the sale, the chief executive officer owned 96,478 shares of the company’s stock, valued at $16,925,135.54. This represents a 26.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lidio Soriano sold 3,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $174.50, for a total transaction of $523,500.00. Following the transaction, the executive vice president owned 107,320 shares of the company’s stock, valued at $18,727,340. This trade represents a 2.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,561 shares of company stock valued at $9,392,259 over the last quarter. 2.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPOP. Acumen Wealth Advisors LLC purchased a new position in shares of Popular in the 4th quarter worth approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Popular during the 4th quarter valued at $28,000. Parallel Advisors LLC raised its holdings in Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after buying an additional 102 shares during the period. Advisory Services Network LLC bought a new stake in Popular in the third quarter worth $31,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Popular in the fourth quarter worth $50,000. 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.