Wells Fargo & Company Increases Popular (NASDAQ:BPOP) Price Target to $180.00

Popular (NASDAQ:BPOP) had its target price boosted by equities researchers at Wells Fargo & Company from $165.00 to $180.00 in a report issued on Monday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s target price points to a potential upside of 7.62% from the company’s current price.

BPOP has been the topic of several other research reports. Piper Sandler upped their price objective on shares of Popular from $173.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $155.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Barclays boosted their price target on Popular from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Royal Bank Of Canada increased their price target on Popular from $141.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Citigroup raised their price objective on Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Popular has an average rating of “Buy” and a consensus price target of $172.73.

Popular Stock Performance

Shares of BPOP stock opened at $167.26 on Monday. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.84 and a beta of 0.61. The firm has a 50-day moving average price of $154.07 and a 200 day moving average price of $141.40. Popular has a twelve month low of $108.74 and a twelve month high of $170.02.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.48. The company had revenue of $816.08 million for the quarter, compared to analysts’ expectations of $866.54 million. Popular had a net margin of 20.10% and a return on equity of 14.53%. During the same period last year, the company earned $2.56 EPS. As a group, research analysts predict that Popular will post 15.13 earnings per share for the current year.

Insider Activity at Popular

In related news, Director Alejandro M. Ballester sold 23,000 shares of Popular stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total value of $3,450,000.00. Following the transaction, the director owned 34,588 shares in the company, valued at approximately $5,188,200. This trade represents a 39.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $148.51, for a total value of $920,762.00. Following the sale, the executive vice president directly owned 11,255 shares of the company’s stock, valued at approximately $1,671,480.05. This trade represents a 35.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,500 shares of company stock worth $4,415,870. 2.13% of the stock is owned by insiders.

Institutional Trading of Popular

Institutional investors have recently modified their holdings of the company. Lighthouse Investment Partners LLC raised its position in Popular by 140.1% in the third quarter. Lighthouse Investment Partners LLC now owns 45,170 shares of the bank’s stock valued at $5,737,000 after purchasing an additional 26,354 shares during the period. Ceeto Capital Group LLC purchased a new position in shares of Popular during the 3rd quarter valued at approximately $29,115,000. Allspring Global Investments Holdings LLC boosted its stake in Popular by 112.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,616 shares of the bank’s stock valued at $5,620,000 after acquiring an additional 23,584 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Popular by 10.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 187,671 shares of the bank’s stock valued at $23,369,000 after purchasing an additional 17,148 shares in the last quarter. Finally, Fieldview Capital Management LLC lifted its position in shares of Popular by 67.5% during the third quarter. Fieldview Capital Management LLC now owns 37,436 shares of the bank’s stock worth $4,755,000 after purchasing an additional 15,081 shares during the last quarter. Hedge funds and other institutional investors 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.