Popular (NASDAQ:BPOP) PT Raised to $115.00

Popular (NASDAQ:BPOP) had its target price lifted by Wells Fargo & Company from $105.00 to $115.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the bank’s stock.

A number of other equities analysts have also commented on BPOP. Royal Bank of Canada lifted their price target on shares of Popular from $80.00 to $90.00 and gave the stock an outperform rating in a report on Friday, January 26th. Piper Sandler lifted their price target on shares of Popular from $96.00 to $105.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. StockNews.com upgraded shares of Popular from a sell rating to a hold rating in a report on Wednesday, April 3rd. Barclays assumed coverage on shares of Popular in a report on Friday, March 8th. They set an overweight rating and a $99.00 price target on the stock. Finally, Hovde Group lifted their target price on shares of Popular from $112.00 to $113.00 and gave the stock an outperform 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 currently has an average rating of Moderate Buy and a consensus price target of $99.89.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $86.58 on Wednesday. The firm has a market cap of $6.26 billion, a PE ratio of 12.85 and a beta of 0.82. The firm’s fifty day moving average is $84.61 and its 200-day moving average is $79.15. Popular has a 52 week low of $52.32 and a 52 week high of $89.70.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.89. The company had revenue of $702.92 million for the quarter, compared to analyst estimates of $699.76 million. Popular had a net margin of 11.95% and a return on equity of 11.95%. Sell-side analysts forecast that Popular will post 8.46 EPS for the current year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s dividend payout ratio (DPR) is currently 36.80%.

Insider Buying and Selling at Popular

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on 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 sale, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Popular news, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the sale, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

Several hedge funds and other institutional investors have recently made changes to their positions in BPOP. Bruce G. Allen Investments LLC bought a new stake in shares of Popular during the fourth quarter worth about $44,000. Principal Securities Inc. bought a new stake in shares of Popular during the fourth quarter worth about $83,000. Assetmark Inc. increased its position in shares of Popular by 55.4% during the third quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock worth $89,000 after acquiring an additional 506 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Popular during the fourth quarter worth about $90,000. Finally, Clear Street Markets LLC bought a new stake in shares of Popular during the fourth quarter worth about $139,000. 87.27% of the stock is owned by institutional investors.

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.