Popular (NASDAQ:BPOP) Price Target Increased to $115.00 by Analysts at Wells Fargo & Company

Popular (NASDAQ:BPOP) had its price objective increased by equities research analysts at Wells Fargo & Company from $105.00 to $115.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 31.74% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Citigroup increased their price target on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. UBS Group increased their price target on Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Hovde Group increased their price target on Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays assumed coverage on Popular in a report on Friday, March 8th. They issued an “overweight” rating and a $99.00 price objective for the company. Finally, StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Three 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, Popular presently has a consensus rating of “Moderate Buy” and an average target price of $99.22.

Popular Price Performance

NASDAQ:BPOP traded down $0.59 during trading hours on Wednesday, reaching $87.29. 131,550 shares of the company were exchanged, compared to its average volume of 448,477. The company has a market capitalization of $6.31 billion, a P/E ratio of 11.62 and a beta of 0.82. Popular has a 1-year low of $52.32 and a 1-year high of $89.70. The business has a 50 day moving average of $84.45 and a 200 day moving average of $78.77.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.89. Popular had a return on equity of 12.63% and a net margin of 13.86%. The firm had revenue of $702.92 million during the quarter, compared to analysts’ expectations of $699.76 million. As a group, equities research analysts anticipate that Popular will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Luis E. Cestero sold 599 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the completion of the sale, the executive vice president now directly owns 26,529 shares in the company, valued at approximately $2,272,208.85. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Popular

Hedge funds have recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new position in Popular in the 4th quarter valued at approximately $44,000. Principal Securities Inc. purchased a new position in shares of Popular during the 4th quarter valued at $83,000. Assetmark Inc. lifted its holdings in shares of Popular by 55.4% during the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock worth $89,000 after acquiring an additional 506 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Popular during the 4th quarter worth $90,000. Finally, Clear Street Markets LLC bought a new stake in shares of Popular during the 4th quarter worth $139,000. Institutional investors 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.