Popular (NASDAQ:BPOP) Rating Reiterated by Keefe, Bruyette & Woods

Popular (NASDAQ:BPOP)‘s stock had its “outperform” rating reiterated by analysts at Keefe, Bruyette & Woods in a report issued on Wednesday, Benzinga reports. They currently have a $110.00 target price on the bank’s stock, up from their prior target price of $103.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 25.10% from the company’s previous close.

Several other research firms also recently commented on BPOP. Royal Bank of Canada lifted their target price on shares of Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Piper Sandler boosted their price objective on shares of Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Barclays began coverage on Popular in a report on Friday, March 8th. They issued an “overweight” rating and a $99.00 price objective for the company. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company increased their price target on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.89.

Popular Price Performance

Shares of Popular stock opened at $87.93 on Wednesday. The company’s 50 day moving average price is $84.58 and its two-hundred day moving average price is $78.90. The firm has a market capitalization of $6.36 billion, a P/E ratio of 13.05 and a beta of 0.82. Popular has a fifty-two week low of $52.32 and a fifty-two week high of $89.70.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.05 by $0.89. Popular had a return on equity of 11.95% and a net margin of 11.95%. The firm had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. On average, analysts expect that Popular will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In other Popular 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 completion of the sale, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Popular news, EVP Luis E. Cestero sold 599 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 26,529 shares in the company, valued at $2,272,208.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now 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.

Hedge Funds Weigh In On Popular

Several large investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC bought a new position in shares of Popular in the fourth quarter valued at approximately $44,000. Principal Securities Inc. bought a new position in Popular during the 4th quarter valued at $83,000. Assetmark Inc. lifted its stake in Popular by 55.4% during the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock valued at $89,000 after acquiring an additional 506 shares in the last quarter. GAMMA Investing LLC purchased a new position in Popular during the 4th quarter worth $90,000. Finally, Clear Street Markets LLC bought a new stake in shares of Popular in the 4th quarter worth $139,000. Institutional investors 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.