Popular (NASDAQ:BPOP) PT 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 note issued to investors on Wednesday, Briefing.com reports. The firm currently has an “outperform” rating on the bank’s stock. Hovde Group’s price target indicates a potential upside of 28.58% from the stock’s previous close.

A number of other research firms have also commented on BPOP. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Barclays began coverage on Popular in a research report on Friday, March 8th. They set an “overweight” rating and a $99.00 price target for the company. Piper Sandler upped their target price on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods upped their target price on Popular from $95.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, UBS Group upped their target price on Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Popular Trading Up 3.1 %

NASDAQ BPOP opened at $87.88 on Wednesday. The stock has a 50-day moving average of $84.45 and a 200-day moving average of $78.77. The firm has a market cap of $6.35 billion, a PE ratio of 11.67 and a beta of 0.82. Popular has a 1-year low of $52.32 and a 1-year high of $89.70.

Popular (NASDAQ:BPOP) last released its quarterly 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 business had revenue of $702.92 million during the quarter, compared to analyst estimates of $699.76 million. Popular had a return on equity of 12.63% and a net margin of 13.86%. As a group, equities research analysts forecast that Popular will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Luis E. Cestero sold 4,641 shares of the 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 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 through this link. In related news, 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 transaction, the executive vice president now directly 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 the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On Popular

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in Popular by 661.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,795 shares of the bank’s stock worth $951,000 after purchasing an additional 9,377 shares during the period. Wedmont Private Capital raised its holdings in Popular by 6.7% in the 1st quarter. Wedmont Private Capital now owns 2,729 shares of the bank’s stock worth $237,000 after purchasing an additional 171 shares during the period. Perpetual Ltd increased its stake in Popular by 5.4% in the 1st quarter. Perpetual Ltd now owns 114,237 shares of the bank’s stock worth $9,960,000 after buying an additional 5,900 shares in the last quarter. CWM LLC increased its stake in Popular by 164.8% in the 1st quarter. CWM LLC now owns 1,769 shares of the bank’s stock worth $156,000 after buying an additional 1,101 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Popular in the 4th quarter worth $289,000. 87.27% of the stock is owned by institutional investors.

About Popular

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.