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

Popular (NASDAQ:BPOP) had its target price boosted 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 firms also recently weighed in on BPOP. Royal Bank of Canada increased their target price on Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Barclays assumed coverage on Popular in a research report on Friday, March 8th. They set an “overweight” rating and a $99.00 target price for the company. Citigroup increased their target price on Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Piper Sandler increased their target price on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods increased their target price on Popular from $95.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Popular currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.22.

Popular Trading Down 0.7 %

Popular stock traded down $0.59 during mid-day trading on Wednesday, hitting $87.29. The company had a trading volume of 131,550 shares, compared to its average volume of 448,477. The stock’s 50 day moving average price is $84.45 and its two-hundred day moving average price is $78.77. Popular has a 12 month low of $52.32 and a 12 month high of $89.70. The company has a market capitalization of $6.31 billion, a PE ratio of 11.62 and a beta of 0.82.

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

Insider Buying and Selling

In related news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Popular news, EVP Luis E. Cestero sold 599 shares of the 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 transaction, the executive vice president now owns 26,529 shares in the company, valued at $2,272,208.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction that occurred 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 owns 26,772 shares in the company, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Popular

Hedge funds have recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in Popular during the fourth quarter worth $44,000. Principal Securities Inc. acquired a new stake in Popular during the fourth quarter worth $83,000. GAMMA Investing LLC acquired a new stake in Popular during the fourth quarter worth $90,000. Assetmark Inc. increased its stake in Popular by 55.4% during the third 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. Finally, Clear Street Markets LLC acquired a new stake in Popular during the fourth quarter worth $139,000. 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.