Barclays Increases Popular (NASDAQ:BPOP) Price Target to $105.00

Popular (NASDAQ:BPOP) had its target price lifted by equities research analysts at Barclays from $99.00 to $105.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Barclays‘s target price points to a potential upside of 21.28% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Citigroup lifted their price target on Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company lifted their price target on Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group lifted their price target on Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Piper Sandler lifted their price target on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.89.

Popular Stock Performance

Popular stock opened at $86.58 on Thursday. Popular has a one year low of $52.32 and a one year high of $89.70. The business has a fifty day moving average of $84.61 and a two-hundred day moving average of $79.05. The company has a market cap of $6.26 billion, a P/E ratio of 12.85 and a beta of 0.82.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. Sell-side analysts predict that Popular will post 8.46 EPS for the current year.

Insider Buying and Selling at Popular

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the sale, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Popular

Institutional investors have recently made changes to their positions in the business. Bruce G. Allen Investments LLC acquired a new position in shares of Popular in the 4th quarter valued at approximately $44,000. Principal Securities Inc. acquired a new position in shares of Popular in the 4th quarter valued at approximately $83,000. Assetmark Inc. raised its position in shares of Popular by 55.4% in the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock valued at $89,000 after purchasing an additional 506 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Popular in the 4th quarter valued at approximately $90,000. Finally, Clear Street Markets LLC acquired a new position in shares of Popular in the 4th quarter valued at approximately $139,000. 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.