Barclays Increases Popular (NASDAQ:BPOP) Price Target to $117.00

Popular (NASDAQ:BPOP) had its target price boosted by equities researchers at Barclays from $115.00 to $117.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays‘s target price would indicate a potential upside of 18.69% from the company’s current price.

A number of other analysts have also weighed in on BPOP. Hovde Group raised their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price objective (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Piper Sandler started coverage on Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.22.

Popular Price Performance

NASDAQ:BPOP opened at $98.58 on Friday. The firm’s 50-day moving average price is $98.84 and its 200-day moving average price is $91.42. The company has a market capitalization of $7.12 billion, a PE ratio of 14.63, a P/E/G ratio of 0.68 and a beta of 0.78. Popular has a 1-year low of $59.27 and a 1-year high of $105.01.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. Popular had a return on equity of 11.73% and a net margin of 12.20%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. During the same quarter last year, the company earned $2.10 EPS. Equities analysts anticipate that Popular will post 8.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPOP. Headlands Technologies LLC bought a new position in shares of Popular during the 1st quarter valued at about $42,000. Mather Group LLC. purchased a new position in Popular during the 2nd quarter valued at approximately $44,000. Meeder Asset Management Inc. purchased a new stake in shares of Popular during the 2nd quarter worth approximately $48,000. GAMMA Investing LLC boosted its position in shares of Popular by 16.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after acquiring an additional 181 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of Popular in the fourth quarter valued at $139,000. 87.27% of the stock is currently 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.