Popular (NASDAQ:BPOP) PT Lowered to $100.00

Popular (NASDAQ:BPOP) had its price objective dropped by investment analysts at Piper Sandler from $112.00 to $100.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 11.47% from the stock’s previous close.

A number of other brokerages have also commented on BPOP. Hovde Group raised their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 target price (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Wells Fargo & Company downgraded shares of Popular from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $115.00 to $105.00 in a report on Tuesday, October 1st. Royal Bank of Canada lifted their target price on shares of Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays reduced their target price on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.25.

Popular Stock Performance

Popular stock traded down $0.02 during trading hours on Thursday, hitting $89.71. 34,468 shares of the stock were exchanged, compared to its average volume of 408,620. The stock has a market capitalization of $6.48 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.66 and a beta of 0.78. Popular has a 12 month low of $59.27 and a 12 month high of $105.01. The business’s 50-day moving average is $98.70 and its two-hundred day moving average is $93.07.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. Popular had a net margin of 12.20% and a return on equity of 11.73%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $751.57 million. During the same period last year, the firm earned $2.10 earnings per share. On average, equities analysts predict that Popular will post 8.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in Popular by 3.6% during the first quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock worth $25,924,000 after purchasing an additional 10,308 shares during the period. Sei Investments Co. lifted its holdings in shares of Popular by 2.2% in the 1st quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock worth $24,898,000 after acquiring an additional 6,067 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Popular by 249.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock worth $2,904,000 after acquiring an additional 23,436 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Popular by 10.4% in the 2nd quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after acquiring an additional 8,317 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Popular by 1.4% in the 1st quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock worth $62,402,000 after acquiring an additional 9,985 shares during the last quarter. Hedge funds and other 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.