Barclays Increases Popular (NASDAQ:BPOP) Price Target to $105.00

Popular (NASDAQ:BPOP) had its price target boosted by equities researchers at Barclays from $99.00 to $105.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Barclays‘s target price would indicate a potential upside of 20.22% from the stock’s previous close.

BPOP has been the topic of a number of other reports. Hovde Group lifted their price target on Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group raised their price target on shares of Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Wells Fargo & Company upped their target price on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $110.00 price objective (up from $103.00) on shares of Popular in a report on Wednesday. Finally, StockNews.com raised Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Popular has an average rating of “Moderate Buy” and a consensus target price of $99.89.

Popular Stock Down 1.2 %

NASDAQ BPOP traded down $1.02 during trading hours on Thursday, reaching $87.34. The company’s stock had a trading volume of 81,709 shares, compared to its average volume of 447,957. Popular has a 1 year low of $52.32 and a 1 year high of $89.70. The firm’s 50-day moving average price is $84.55 and its 200-day moving average price is $78.83. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 12.91 and a beta of 0.82.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.89. Popular had a net margin of 11.95% and a return on equity of 11.95%. The company had revenue of $702.92 million for the quarter, compared to analyst estimates of $699.76 million. Equities research analysts anticipate that Popular will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Luis E. Cestero sold 599 shares of the business’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 completion of the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction 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. Insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Large investors have recently modified their holdings of the company. Treasurer of the State of North Carolina increased its stake in shares of Popular by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 30,898 shares of the bank’s stock valued at $1,947,000 after acquiring an additional 150 shares during the period. Wedmont Private Capital raised its stake in shares of Popular by 6.7% in the 1st quarter. Wedmont Private Capital now owns 2,729 shares of the bank’s stock worth $237,000 after buying an additional 171 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Popular by 1.4% in the third quarter. Arizona State Retirement System now owns 20,493 shares of the bank’s stock valued at $1,291,000 after buying an additional 277 shares during the period. Rock Point Advisors LLC grew its holdings in Popular by 1.1% during the third quarter. Rock Point Advisors LLC now owns 31,792 shares of the bank’s stock worth $2,003,000 after acquiring an additional 345 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Popular by 0.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,543 shares of the bank’s stock worth $7,091,000 after acquiring an additional 367 shares in the last quarter. Institutional investors and hedge funds 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.