Barclays Boosts Popular (NASDAQ:BPOP) Price Target to $115.00

Popular (NASDAQ:BPOP) had its price target upped by analysts at Barclays from $110.00 to $115.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Barclays‘s target price points to a potential upside of 26.96% from the company’s previous close.

A number of other research firms also recently commented on BPOP. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reduced their price target on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, UBS Group started coverage on shares of Popular in a research report on Tuesday. They issued a “neutral” rating and a $104.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Popular Price Performance

Shares of Popular stock opened at $90.58 on Friday. Popular has a 1 year low of $79.01 and a 1 year high of $105.01. The company has a market capitalization of $6.46 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. The business has a 50-day moving average of $96.28 and a two-hundred day moving average of $95.29.

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

Insiders Place Their Bets

In related news, EVP Beatriz Castellvi sold 3,500 shares of the company’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 transaction of $347,060.00. Following the transaction, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. This represents a 12.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the 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 owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Popular by 22.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,815 shares of the bank’s stock valued at $337,000 after acquiring an additional 692 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Popular by 17.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,558 shares of the bank’s stock worth $315,000 after acquiring an additional 518 shares during the period. Raymond James & Associates boosted its stake in Popular by 3.9% in the second quarter. Raymond James & Associates now owns 31,582 shares of the bank’s stock valued at $2,793,000 after acquiring an additional 1,195 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Popular by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 607,253 shares of the bank’s stock valued at $53,699,000 after acquiring an additional 20,522 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in shares of Popular in the 2nd quarter worth approximately $277,000. 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.