Barclays Issues Positive Forecast for Popular (NASDAQ:BPOP) Stock Price

Popular (NASDAQ:BPOP - Get Free Report) had its price objective increased by stock 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 price target would suggest a potential upside of 25.46% from the stock's previous close.

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

Popular Trading Up 1.2 %

Shares of NASDAQ:BPOP traded up $1.08 during trading on Friday, hitting $91.66. 1,458,994 shares of the company were exchanged, compared to its average volume of 435,573. Popular has a fifty-two week low of $79.01 and a fifty-two week high of $105.01. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.76 and a beta of 0.81. The firm has a fifty day moving average price of $96.10 and a two-hundred day moving average price of $95.32.

Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same period in the prior year, the business posted $1.90 earnings per share. Popular's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts predict that Popular will post 8.46 EPS for the current year.

Insider Buying and Selling at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the transaction, the executive vice president now owns 25,115 shares of the company's stock, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares of the company's stock, valued at $325,569.72. This trade represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Institutional Trading of Popular

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its position in Popular by 3.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank's stock valued at $361,000 after acquiring an additional 118 shares during the period. Assetmark Inc. grew its stake in shares of Popular by 4.0% in the third quarter. Assetmark Inc. now owns 3,749 shares of the bank's stock worth $376,000 after purchasing an additional 143 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Popular by 0.8% in the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank's stock valued at $1,974,000 after purchasing an additional 148 shares during the period. Financial Management Professionals Inc. acquired a new stake in Popular in the third quarter valued at $29,000. Finally, Park Avenue Securities LLC raised its position in Popular by 8.6% during the 3rd quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank's stock worth $388,000 after purchasing an additional 307 shares during the last quarter. 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.