Keefe, Bruyette & Woods Analysts Give Popular (BPOP) a $49.00 Price Target

Popular (NASDAQ:BPOP) has been given a $49.00 price objective by research analysts at Keefe, Bruyette & Woods in a research note issued on Thursday. The firm currently has a “buy” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 18.93% from the company’s previous close.

BPOP has been the topic of several other research reports. Barclays upgraded Popular from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a report on Thursday, October 26th. BTIG Research upgraded Popular from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Piper Jaffray Companies restated a “buy” rating and set a $50.50 target price on shares of Popular in a report on Wednesday, November 1st. Compass Point upgraded Popular from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. Finally, ValuEngine upgraded Popular from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.50.

Popular (NASDAQ:BPOP) traded up $1.44 during trading on Thursday, reaching $41.20. The company’s stock had a trading volume of 681,900 shares, compared to its average volume of 883,142. Popular has a 1 year low of $32.04 and a 1 year high of $46.83. The firm has a market capitalization of $4,058.26, a price-to-earnings ratio of 40.79 and a beta of 1.19.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.22. Popular had a return on equity of 5.25% and a net margin of 4.89%. The firm had revenue of $473.35 million during the quarter. sell-side analysts forecast that Popular will post 3.88 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in BPOP. Investec Asset Management LTD grew its holdings in shares of Popular by 270.1% during the third quarter. Investec Asset Management LTD now owns 3,640,138 shares of the bank’s stock worth $130,827,000 after purchasing an additional 2,656,548 shares during the last quarter. Deutsche Bank AG boosted its holdings in Popular by 1,878.6% in the fourth quarter. Deutsche Bank AG now owns 1,128,779 shares of the bank’s stock valued at $40,055,000 after acquiring an additional 1,071,729 shares during the last quarter. Renaissance Technologies LLC bought a new position in Popular in the fourth quarter valued at about $16,032,000. Prudential Financial Inc. boosted its holdings in Popular by 63.9% in the third quarter. Prudential Financial Inc. now owns 903,755 shares of the bank’s stock valued at $32,480,000 after acquiring an additional 352,420 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC boosted its holdings in Popular by 50.5% in the fourth quarter. Philadelphia Financial Management of San Francisco LLC now owns 883,268 shares of the bank’s stock valued at $31,347,000 after acquiring an additional 296,570 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.

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About Popular

Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.

Analyst Recommendations for Popular (NASDAQ:BPOP)

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