Popular (NASDAQ:BPOP) Price Target 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 research note issued to investors on Wednesday, MarketBeat reports. Hovde Group currently has an outperform rating on the bank’s stock.

Other research analysts have also recently issued research reports about the company. Piper Sandler raised their target price on Popular from $96.00 to $105.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Barclays initiated coverage on Popular in a research report on Friday, March 8th. They set an overweight rating and a $99.00 price objective for the company. Royal Bank of Canada raised their price objective on Popular from $80.00 to $90.00 and gave the company an outperform rating in a research report on Friday, January 26th. Citigroup raised their price objective on Popular from $103.00 to $107.00 and gave the company a buy rating in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods raised their price objective on Popular from $95.00 to $103.00 and gave the company an outperform rating in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $99.22.

Popular Stock Up 0.5 %

BPOP opened at $88.36 on Wednesday. The stock has a market cap of $6.39 billion, a PE ratio of 13.11 and a beta of 0.82. The business has a 50 day moving average of $84.55 and a 200-day moving average of $78.83. Popular has a 52 week low of $52.32 and a 52 week high of $89.70.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.89. The company had revenue of $702.92 million during the quarter, compared to analysts’ expectations of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. Equities analysts anticipate that Popular will post 8.52 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s payout ratio is 36.80%.

Insiders Place Their Bets

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on Friday, March 8th. The stock was 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 owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at approximately $2,260,092.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Luis E. Cestero sold 599 shares of the firm’s stock in a transaction on 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 owns 26,529 shares in the company, valued at $2,272,208.85. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in shares of Popular in the 4th quarter worth $1,563,000. American Century Companies Inc. lifted its position in Popular by 64.9% during the third quarter. American Century Companies Inc. now owns 726,743 shares of the bank’s stock valued at $45,792,000 after purchasing an additional 286,119 shares in the last quarter. Ritholtz Wealth Management lifted its position in Popular by 253.3% during the fourth quarter. Ritholtz Wealth Management now owns 18,568 shares of the bank’s stock valued at $1,524,000 after purchasing an additional 13,312 shares in the last quarter. Northern Trust Corp lifted its position in Popular by 34.2% during the third quarter. Northern Trust Corp now owns 503,917 shares of the bank’s stock valued at $31,752,000 after purchasing an additional 128,304 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in Popular during the third quarter valued at $1,151,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

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.