Popular (NASDAQ:BPOP) Given New $116.00 Price Target at Keefe, Bruyette & Woods

Popular (NASDAQ:BPOP) had its price objective boosted by research analysts at Keefe, Bruyette & Woods from $103.00 to $116.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 16.94% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada lowered their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays decreased their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Piper Sandler decreased their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upped their price objective on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.25.

Popular Trading Up 0.7 %

Shares of Popular stock traded up $0.71 on Wednesday, reaching $99.20. The stock had a trading volume of 50,362 shares, compared to its average volume of 425,418. Popular has a 1 year low of $74.97 and a 1 year high of $105.01. The company has a market cap of $7.07 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 0.77 and a beta of 0.81. The business’s 50 day moving average is $96.47 and its two-hundred day moving average is $94.78.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The firm had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. During the same period in the previous year, the company posted $1.90 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Popular will post 8.46 EPS for the current fiscal year.

Insider Transactions at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the sale, the vice president now owns 3,332 shares of the company’s stock, valued at $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at $2,490,403.40. The trade was a 12.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On Popular

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new position in Popular during the third quarter valued at $29,000. Capital Performance Advisors LLP purchased a new position in Popular during the third quarter valued at $35,000. Mather Group LLC. purchased a new position in Popular during the second quarter valued at $44,000. Brooklyn Investment Group purchased a new position in Popular during the third quarter valued at $47,000. Finally, Meeder Asset Management Inc. purchased a new position in Popular during the second quarter valued at $48,000. Hedge funds and other institutional investors 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.