Hovde Group Raises Popular (NASDAQ:BPOP) Price Target to $113.00

Popular (NASDAQ:BPOP) had its target price lifted by Hovde Group from $112.00 to $113.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. Hovde Group currently has an outperform rating on the bank’s stock.

BPOP has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their target price on Popular from $95.00 to $103.00 and gave the stock an outperform rating in a report on Friday, January 26th. StockNews.com upgraded Popular from a sell rating to a hold rating in a report on Wednesday, April 3rd. Citigroup raised their target price on Popular from $103.00 to $107.00 and gave the stock a buy rating in a report on Wednesday, March 13th. UBS Group raised their target price on Popular from $84.00 to $91.00 and gave the stock a neutral rating in a report on Friday, January 26th. Finally, Piper Sandler raised their target price on Popular from $96.00 to $105.00 and gave the stock an overweight rating in a report 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 stock currently has an average rating of Moderate Buy and an average target price of $99.89.

Popular Stock Down 1.5 %

Shares of BPOP stock opened at $86.58 on Wednesday. The stock has a 50-day moving average price of $84.61 and a 200 day moving average price of $79.05. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 12.85 and a beta of 0.82. Popular has a 12 month low of $52.32 and a 12 month high of $89.70.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.89. The firm had revenue of $702.92 million during the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, March 13th. Popular’s payout ratio is 36.80%.

Insider Buying and Selling at Popular

In other Popular news, 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 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 is available at this hyperlink. In other Popular 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 value of $51,304.35. Following the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $2,272,208.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were 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 disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BPOP. Bruce G. Allen Investments LLC acquired a new position in shares of Popular during the 4th quarter worth approximately $44,000. Principal Securities Inc. acquired a new position in shares of Popular during the 4th quarter worth approximately $83,000. Assetmark Inc. increased its holdings in shares of Popular by 55.4% during the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock worth $89,000 after acquiring an additional 506 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Popular during the 4th quarter worth approximately $90,000. Finally, Clear Street Markets LLC bought a new stake in Popular in the 4th quarter valued at $139,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

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.