Popular (NASDAQ:BPOP) PT Lowered to $48.00

Popular (NASDAQ:BPOP) had its price target decreased by Royal Bank of Canada from $58.00 to $48.00 in a research note issued to investors on Tuesday, The Fly reports. Royal Bank of Canada’s price objective suggests a potential upside of 32.52% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Citigroup increased their target price on shares of Popular from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. ValuEngine upgraded shares of Popular from a “sell” rating to a “hold” rating in a report on Monday, March 30th. TheStreet upgraded shares of Popular from a “c” rating to a “b-” rating in a report on Wednesday, June 24th. Piper Sandler increased their target price on shares of Popular from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, BTIG Research restated a “buy” rating and set a $54.00 price objective on shares of Popular in a report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Popular has a consensus rating of “Buy” and a consensus target price of $50.40.

Shares of BPOP stock opened at $36.22 on Tuesday. Popular has a 52-week low of $23.69 and a 52-week high of $61.46. The stock has a market cap of $3.10 billion, a PE ratio of 6.53 and a beta of 1.24. The firm’s 50 day moving average price is $38.59 and its two-hundred day moving average price is $44.69.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, April 30th. The bank reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($1.00). The firm had revenue of $599.74 million during the quarter, compared to analyst estimates of $604.57 million. Popular had a return on equity of 9.23% and a net margin of 18.98%. During the same quarter last year, the business posted $1.69 earnings per share. As a group, analysts forecast that Popular will post 3.85 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. CWM Advisors LLC bought a new position in Popular in the first quarter valued at $41,000. Citizens Financial Group Inc RI bought a new position in Popular in the first quarter valued at $42,000. Toronto Dominion Bank grew its position in Popular by 27.9% in the fourth quarter. Toronto Dominion Bank now owns 1,525 shares of the bank’s stock valued at $90,000 after purchasing an additional 333 shares in the last quarter. ETF Managers Group LLC grew its position in Popular by 11.4% in the first quarter. ETF Managers Group LLC now owns 5,329 shares of the bank’s stock valued at $190,000 after purchasing an additional 544 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Popular by 12.5% in the first quarter. Wedge Capital Management L L P NC now owns 6,629 shares of the bank’s stock valued at $232,000 after purchasing an additional 735 shares in the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. 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, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

Featured Article: Quiet Period

The Fly

Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.