Popular (NASDAQ:BPOP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Popular (NASDAQ:BPOP) had its price target hoisted by stock analysts at Wells Fargo & Company from $105.00 to $110.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 6.05% from the stock’s previous close.

BPOP has been the subject of several other reports. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler lowered their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada raised their target price on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group started coverage on Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target for the company. Finally, Barclays raised their price objective on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.25.

Popular Trading Up 1.2 %

NASDAQ BPOP opened at $103.72 on Thursday. The company has a market capitalization of $7.40 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.65 and a beta of 0.81. Popular has a 1-year low of $80.60 and a 1-year high of $106.46. The firm’s fifty day simple moving average is $97.03 and its 200-day simple moving average is $97.35.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.35% and a net margin of 12.36%. As a group, analysts predict that Popular will post 8.41 EPS for the current year.

Insider Buying and Selling

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s 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 directly owns 3,332 shares in the company, valued at $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the firm’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 owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Popular

A number of hedge funds and other institutional investors have recently made changes to their positions in BPOP. Assetmark Inc. increased its stake in Popular by 4.0% in the third quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock valued at $376,000 after acquiring an additional 143 shares during the period. Pathstone Holdings LLC grew its stake in shares of Popular by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock valued at $1,974,000 after purchasing an additional 148 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Popular in the 3rd quarter valued at approximately $29,000. Park Avenue Securities LLC lifted its position in shares of Popular by 8.6% during the 3rd quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank’s stock worth $388,000 after buying an additional 307 shares during the period. Finally, KBC Group NV grew its position in Popular by 19.0% in the third quarter. KBC Group NV now owns 2,076 shares of the bank’s stock valued at $208,000 after acquiring an additional 331 shares during the period. 87.27% of the stock is owned by 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.