Popular (BPOP) Price Target Raised to $62.00 at Citigroup

Popular (NASDAQ:BPOP) had its price objective hoisted by Citigroup from $59.00 to $62.00 in a research report report published on Thursday morning. They currently have a buy rating on the bank’s stock.

BPOP has been the topic of a number of other research reports. Royal Bank of Canada restated a buy rating and set a $55.00 price target on shares of Popular in a report on Wednesday, July 25th. Morgan Stanley boosted their price target on shares of Popular from $50.00 to $54.00 and gave the company an equal weight rating in a report on Tuesday, July 31st. Sandler O’Neill restated a buy rating and set a $58.00 price target on shares of Popular in a report on Monday, July 23rd. Finally, Barclays boosted their price target on shares of Popular from $51.00 to $55.00 and gave the company an overweight rating in a report on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $53.94.

Shares of NASDAQ BPOP traded up $1.16 during midday trading on Thursday, reaching $51.16. The company’s stock had a trading volume of 1,358,721 shares, compared to its average volume of 729,974. Popular has a one year low of $32.27 and a one year high of $53.00. The company has a market capitalization of $5.08 billion, a P/E ratio of 18.96 and a beta of 1.14.



Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, October 24th. The bank reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.20. Popular had a net margin of 12.21% and a return on equity of 5.78%. The business had revenue of $602.49 million for the quarter, compared to the consensus estimate of $586.10 million. During the same period in the previous year, the firm earned $0.19 EPS. As a group, analysts forecast that Popular will post 4.7 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Thursday, September 13th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. Popular’s dividend payout ratio is currently 37.31%.

In related news, VP Jorge J. Garcia sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $49.69, for a total transaction of $149,070.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Maria Luisa Ferre sold 22,797 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $50.12, for a total transaction of $1,142,585.64. The disclosure for this sale can be found here. Insiders have sold 39,005 shares of company stock worth $1,956,006 in the last 90 days. 1.38% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Popular by 17.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,792 shares of the bank’s stock valued at $307,000 after purchasing an additional 995 shares in the last quarter. Macquarie Group Ltd. grew its position in Popular by 19.0% during the second quarter. Macquarie Group Ltd. now owns 7,500 shares of the bank’s stock valued at $339,000 after purchasing an additional 1,200 shares in the last quarter. Strs Ohio grew its position in Popular by 24.5% during the third quarter. Strs Ohio now owns 10,599 shares of the bank’s stock valued at $543,000 after purchasing an additional 2,085 shares in the last quarter. Fox Run Management L.L.C. grew its position in Popular by 21.3% during the second quarter. Fox Run Management L.L.C. now owns 12,317 shares of the bank’s stock valued at $557,000 after purchasing an additional 2,160 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in Popular during the second quarter valued at approximately $118,000. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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Analyst Recommendations for Popular (NASDAQ:BPOP)

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