Popular (NASDAQ:BPOP) PT Raised to $115.00

Popular (NASDAQ:BPOP) had its target price hoisted by Wells Fargo & Company from $105.00 to $115.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other analysts have also issued research reports about the stock. UBS Group lifted their target price on shares of Popular from $84.00 to $91.00 and gave the stock a neutral rating in a report on Friday, January 26th. Piper Sandler boosted their price target on shares of Popular from $96.00 to $105.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods boosted their price target on shares of Popular from $95.00 to $103.00 and gave the company an outperform rating in a report on Friday, January 26th. Barclays began coverage on shares of Popular in a report on Friday, March 8th. They issued an overweight rating and a $99.00 price target for the company. Finally, Citigroup boosted their price target on shares of Popular from $103.00 to $107.00 and gave the company a buy rating in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $99.89.

Popular Stock Performance

BPOP opened at $86.58 on Wednesday. The company has a fifty day moving average price of $84.61 and a two-hundred day moving average price of $79.15. Popular has a 52 week low of $52.32 and a 52 week high of $89.70. The firm has a market capitalization of $6.26 billion, a PE ratio of 12.85 and a beta of 0.82.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, January 25th. The bank reported $1.94 EPS 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 firm had revenue of $702.92 million during the quarter, compared to analyst estimates of $699.76 million. Equities analysts forecast that Popular will post 8.46 EPS for the current year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were given a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $2.48 annualized dividend and a yield of 2.86%. Popular’s dividend payout ratio is currently 36.80%.

Insider Activity at Popular

In related news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction on Friday, March 8th. The shares were 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 of the company’s stock, valued at approximately $2,260,092.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Popular news, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $85.65, for a total transaction of $51,304.35. Following the sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction 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 disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Popular

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Popular by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,016,116 shares of the bank’s stock worth $568,105,000 after buying an additional 171,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Popular by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,108,821 shares of the bank’s stock worth $337,213,000 after buying an additional 19,849 shares in the last quarter. Wellington Management Group LLP lifted its position in Popular by 6.0% during the 4th quarter. Wellington Management Group LLP now owns 3,816,736 shares of the bank’s stock worth $313,240,000 after buying an additional 216,855 shares in the last quarter. Norges Bank bought a new stake in Popular during the 4th quarter worth about $66,881,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Popular by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 733,072 shares of the bank’s stock worth $60,163,000 after buying an additional 21,386 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

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.