Popular (NASDAQ:BPOP) Coverage Initiated at UBS Group

Research analysts at UBS Group began coverage on shares of Popular (NASDAQ:BPOP) in a report issued on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating and a $104.00 price target on the bank’s stock. UBS Group’s target price indicates a potential upside of 15.53% from the company’s previous close.

Several other equities analysts also recently weighed in on BPOP. Piper Sandler dropped their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price target on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Barclays increased their price objective on shares of Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.63.

Popular Stock Down 4.1 %

NASDAQ:BPOP opened at $90.02 on Tuesday. The firm’s fifty day simple moving average is $96.41 and its 200-day simple moving average is $95.33. The stock has a market cap of $6.42 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. Popular has a fifty-two week low of $79.01 and a fifty-two week high of $105.01.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The company had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Popular will post 8.46 earnings per share for the current year.

Insider Activity

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction dated 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 owns 25,115 shares in the company, valued at $2,490,403.40. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the transaction, the vice president now owns 3,332 shares in the company, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new position in shares of Popular in the 3rd quarter valued at $29,000. Capital Performance Advisors LLP purchased a new stake in Popular during the third quarter valued at about $35,000. Brooklyn Investment Group purchased a new stake in Popular during the third quarter valued at about $47,000. Meeder Asset Management Inc. acquired a new stake in Popular during the second quarter worth about $48,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Popular in the 3rd quarter worth about $81,000. 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.