Popular (NASDAQ:BPOP) Price Target Raised to $105.00 at Wells Fargo & Company

Popular (NASDAQ:BPOP) had its price objective boosted by equities researchers at Wells Fargo & Company from $90.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.38% from the company’s previous close.

Other equities analysts have also issued reports about the company. Barclays decreased their price target on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price objective on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Piper Sandler cut their price target on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.75.

Popular Trading Up 0.1 %

Shares of BPOP stock traded up $0.13 during trading hours on Tuesday, reaching $98.70. The stock had a trading volume of 8,164 shares, compared to its average volume of 425,538. Popular has a 12 month low of $74.97 and a 12 month high of $105.01. The stock’s fifty day simple moving average is $96.51 and its 200 day simple moving average is $94.74. The firm has a market capitalization of $7.04 billion, a PE ratio of 13.39, a PEG ratio of 0.78 and a beta of 0.81.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The business had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. As a group, equities research analysts anticipate that Popular will post 8.46 EPS for the current fiscal year.

Insider Activity at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares of the company’s stock, valued at $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares in the company, valued at approximately $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. purchased a new stake in shares of Popular in the third quarter valued at about $29,000. Capital Performance Advisors LLP bought a new position in shares of Popular in the third quarter valued at about $35,000. Mather Group LLC. acquired a new position in shares of Popular in the 2nd quarter valued at approximately $44,000. Brooklyn Investment Group bought a new stake in Popular in the 3rd quarter valued at $47,000. Finally, Meeder Asset Management Inc. bought a new stake in Popular in the second quarter valued at approximately $48,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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.