Popular (NASDAQ:BPOP) Stock Rating Upgraded by Wells Fargo & Company

Popular (NASDAQ:BPOP) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, MarketBeat reports. The firm currently has a $100.00 target price on the bank’s stock. Wells Fargo & Company‘s price target points to a potential upside of 22.50% from the stock’s previous close.

BPOP has been the topic of several other research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Barclays lifted their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. UBS Group started coverage on Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 target price for the company. Finally, StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Popular presently has an average rating of “Moderate Buy” and a consensus target price of $111.57.

Popular Stock Down 0.3 %

BPOP opened at $81.63 on Wednesday. The stock’s 50 day moving average price is $95.48 and its two-hundred day moving average price is $96.24. The firm has a market capitalization of $5.66 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. Popular has a 12-month low of $78.23 and a 12-month high of $106.81.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. As a group, analysts anticipate that Popular will post 10.06 earnings per share for the current year.

Insider Buying and Selling at Popular

In other news, 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 value of $1,040,200.00. Following the sale, the executive vice president now owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BPOP. Proficio Capital Partners LLC bought a new position in Popular in the 4th quarter valued at $27,000. Picton Mahoney Asset Management increased its stake in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after buying an additional 118 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after buying an additional 218 shares during the last quarter. Versant Capital Management Inc lifted its position in Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock worth $76,000 after buying an additional 702 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Popular during the 3rd quarter worth about $81,000. 87.27% of the stock is 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.