Popular (NASDAQ:BPOP) PT Raised to $117.00 at Barclays

Popular (NASDAQ:BPOP) had its target price raised by research analysts at Barclays from $115.00 to $117.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Barclays‘s price target points to a potential upside of 18.69% from the stock’s previous close.

A number of other analysts have also weighed in on BPOP. Hovde Group increased their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler started coverage on Popular in a research note on Monday, August 26th. They issued an “overweight” rating and a $112.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.22.

Popular Stock Performance

Shares of Popular stock opened at $98.58 on Friday. The stock has a 50 day moving average price of $98.84 and a 200-day moving average price of $91.42. Popular has a one year low of $59.27 and a one year high of $105.01. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. Popular had a net margin of 12.20% and a return on equity of 11.73%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $751.57 million. During the same quarter in the previous year, the business posted $2.10 earnings per share. Sell-side analysts predict that Popular will post 8.86 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the sale, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its holdings in shares of Popular by 13.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,085 shares of the bank’s stock valued at $499,000 after acquiring an additional 729 shares during the period. UBS Group AG grew its stake in Popular by 12.7% in the fourth quarter. UBS Group AG now owns 139,694 shares of the bank’s stock valued at $11,465,000 after purchasing an additional 15,710 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Popular by 4.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,199 shares of the bank’s stock worth $2,643,000 after purchasing an additional 1,301 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Popular by 51.2% during the fourth quarter. Rafferty Asset Management LLC now owns 89,643 shares of the bank’s stock valued at $7,357,000 after buying an additional 30,354 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Popular in the 4th quarter valued at about $809,000. Institutional investors own 87.27% of the company’s stock.

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.