Keefe, Bruyette & Woods Raises Popular (NASDAQ:BPOP) Price Target to $129.00

Popular (NASDAQ:BPOP) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $116.00 to $129.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 23.97% from the company’s current price.

BPOP has been the subject of several other reports. Wells Fargo & Company upped their target price on Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. UBS Group began coverage on Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price objective on the stock. Barclays boosted their target price on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada reduced their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler dropped their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Three 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, Popular presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.88.

Popular Stock Up 1.6 %

Shares of Popular stock traded up $1.60 during trading on Wednesday, reaching $104.06. The company’s stock had a trading volume of 98,735 shares, compared to its average volume of 459,384. The firm has a market cap of $7.42 billion, a PE ratio of 14.16, a P/E/G ratio of 0.65 and a beta of 0.81. Popular has a 52 week low of $80.60 and a 52 week high of $106.46. The business’s 50-day moving average price is $97.03 and its 200-day moving average price is $97.35.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating 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%. Equities analysts predict that Popular will post 8.41 earnings per share for the current year.

Insider Activity at Popular

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 value of $347,060.00. Following the sale, the executive vice president now directly owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares of the company’s stock, valued at $325,569.72. This represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Institutional Trading of Popular

Institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Popular in the 3rd quarter valued at about $29,000. Capital Performance Advisors LLP acquired a new position in Popular in the third quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new position in Popular in the third quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB bought a new position in Popular during the third quarter worth $81,000. Finally, R Squared Ltd acquired a new stake in shares of Popular in the 4th quarter valued at about $166,000. Institutional investors own 87.27% of the company’s stock.

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.