Popular (NASDAQ:BPOP) PT Raised to $115.00

Popular (NASDAQ:BPOP) had its price target lifted by Wells Fargo & Company from $105.00 to $115.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 30.79% from the stock’s current price.

Several other equities analysts have also recently commented on BPOP. Hovde Group boosted their target price on Popular from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Popular from $95.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. UBS Group raised their target price on shares of Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Citigroup boosted their price target on shares of Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, Barclays began coverage on shares of Popular in a research report on Friday, March 8th. They set an “overweight” rating and a $99.00 price objective on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.89.

Popular Trading Down 0.5 %

BPOP stock opened at $87.93 on Wednesday. The firm has a 50 day moving average of $84.58 and a 200-day moving average of $78.90. The firm has a market capitalization of $6.36 billion, a P/E ratio of 13.05 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 results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.05 by $0.89. The firm had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. Popular had a net margin of 11.95% and a return on equity of 11.95%. Sell-side analysts predict that Popular will post 8.52 EPS for the current year.

Insider Activity

In related news, EVP Luis E. Cestero sold 599 shares of the company’s stock in a transaction 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 directly owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 directly owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Popular

Hedge funds have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new stake in shares of Popular in the 4th quarter worth $44,000. Principal Securities Inc. purchased a new stake in shares of Popular during the fourth quarter valued at $83,000. Assetmark Inc. increased its holdings in Popular by 55.4% in the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock worth $89,000 after buying an additional 506 shares in the last quarter. GAMMA Investing LLC purchased a new position in Popular in the 4th quarter worth about $90,000. Finally, Clear Street Markets LLC purchased a new position in Popular in the 4th quarter worth about $139,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Company Profile

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.