Popular (NASDAQ:BPOP) Given New $180.00 Price Target at Barclays

Popular (NASDAQ:BPOP) had its price target lifted by equities researchers at Barclays from $175.00 to $180.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Barclays‘s price target points to a potential upside of 27.53% from the company’s previous close.

A number of other research firms have also issued reports on BPOP. Credit Suisse Group set a $156.00 target price on Popular in a report on Tuesday, February 3rd. Piper Sandler assumed coverage on Popular in a report on Thursday, January 15th. They issued an “overweight” rating and a $152.00 target price on the stock. Wells Fargo & Company raised their target price on Popular from $135.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, March 30th. UBS Group raised Popular from a “neutral” rating to a “buy” rating and raised their target price for the company from $142.00 to $160.00 in a report on Tuesday. Finally, Royal Bank Of Canada lifted their price objective on Popular from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $161.18.

Popular Trading Up 0.9%

BPOP traded up $1.24 during midday trading on Tuesday, reaching $141.14. The company’s stock had a trading volume of 316,849 shares, compared to its average volume of 561,741. The stock has a market cap of $9.17 billion, a P/E ratio of 11.47, a PEG ratio of 0.85 and a beta of 0.59. The company has a fifty day simple moving average of $136.82 and a 200 day simple moving average of $126.38. Popular has a twelve month low of $79.63 and a twelve month high of $149.31.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.36. The firm had revenue of $806.59 million for the quarter, compared to analyst estimates of $811.55 million. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same quarter last year, the firm posted $2.51 EPS. Sell-side analysts expect that Popular will post 10.06 earnings per share for the current year.

Insider Buying and Selling at Popular

In related news, Director Alejandro M. Sanchez sold 1,451 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $140.85, for a total value of $204,373.35. Following the sale, the director owned 3,415 shares of the company’s stock, valued at $481,002.75. The trade was a 29.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alejandro M. Ballester sold 2,360 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total value of $312,700.00. Following the completion of the sale, the director directly owned 57,449 shares in the company, valued at approximately $7,611,992.50. This represents a 3.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.09% of the stock is owned by insiders.

Institutional Trading of Popular

Several institutional investors have recently bought and sold shares of BPOP. Royal Bank of Canada boosted its stake in Popular by 23.1% in the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock valued at $8,715,000 after buying an additional 17,729 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Popular in the 1st quarter valued at $257,000. Goldman Sachs Group Inc. boosted its stake in Popular by 60.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock valued at $20,647,000 after buying an additional 84,327 shares in the last quarter. Focus Partners Wealth acquired a new stake in Popular in the 1st quarter valued at $207,000. Finally, Sivia Capital Partners LLC acquired a new stake in Popular in the 2nd quarter valued at $252,000. Institutional investors and hedge funds 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.