Popular (NASDAQ:BPOP) PT Raised to $113.00 at Hovde Group

Popular (NASDAQ:BPOP) had its price target upped by Hovde Group from $112.00 to $113.00 in a report released on Wednesday, Briefing.com reports. The firm presently has an “outperform” rating on the bank’s stock. Hovde Group’s target price indicates a potential upside of 28.58% from the company’s previous close.

A number of other research analysts have also commented on BPOP. Citigroup upped their price objective on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Royal Bank of Canada upped their target price on Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. UBS Group upped their target price on Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, Barclays initiated coverage on Popular in a research report on Friday, March 8th. They set an “overweight” rating and a $99.00 target price for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Popular currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Popular Trading Up 3.1 %

BPOP stock opened at $87.88 on Wednesday. The business’s 50 day simple moving average is $84.45 and its 200 day simple moving average is $78.77. Popular has a 1-year low of $52.32 and a 1-year high of $89.70. The firm has a market capitalization of $6.35 billion, a PE ratio of 11.67 and a beta of 0.82.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.89. Popular had a return on equity of 12.63% and a net margin of 13.86%. The firm had revenue of $702.92 million for the quarter, compared to analyst estimates of $699.76 million. As a group, sell-side analysts predict that Popular will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Popular news, EVP Luis E. Cestero sold 599 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $2,272,208.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Popular news, EVP Luis E. Cestero sold 599 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $2,272,208.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction dated Friday, March 8th. The shares were 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 of the company’s stock, valued at $2,260,092.24. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Popular

Several institutional investors and hedge funds have recently made changes to their positions in BPOP. AE Wealth Management LLC increased its stake in shares of Popular by 9.1% in the third quarter. AE Wealth Management LLC now owns 19,863 shares of the bank’s stock valued at $1,252,000 after buying an additional 1,662 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Popular in the third quarter valued at about $331,000. Raymond James & Associates grew its stake in Popular by 11.3% during the third quarter. Raymond James & Associates now owns 29,986 shares of the bank’s stock worth $1,889,000 after purchasing an additional 3,042 shares during the period. Bailard Inc. grew its stake in Popular by 93.6% during the third quarter. Bailard Inc. now owns 9,100 shares of the bank’s stock worth $573,000 after purchasing an additional 4,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Popular by 25.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,950 shares of the bank’s stock worth $879,000 after purchasing an additional 2,795 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

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.