Popular (NASDAQ:BPOP) Price Target Raised to $129.00

Popular (NASDAQ:BPOP - Free Report) had its price objective boosted by Keefe, Bruyette & Woods from $116.00 to $129.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the bank's stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company upped their price objective on Popular from $90.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on shares of Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, December 20th. UBS Group started coverage on shares of Popular in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price objective for the company. Royal Bank of Canada lowered their target price on shares of Popular from $108.00 to $96.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Finally, Piper Sandler lowered their target price on Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Popular presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.25.

Popular Trading Down 0.2 %

NASDAQ:BPOP traded down $0.23 during trading hours on Wednesday, hitting $103.49. The company had a trading volume of 542,943 shares, compared to its average volume of 487,308. Popular has a 1 year low of $80.60 and a 1 year high of $106.46. The company has a market cap of $7.38 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.65 and a beta of 0.81. The company has a 50-day moving average of $97.17 and a 200 day moving average of $97.39.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping 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%. On average, analysts forecast that Popular will post 8.41 earnings per share for the current year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $0.70 dividend. This is a boost from Popular's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. Popular's dividend payout ratio (DPR) is presently 38.04%.

Insider Buying and Selling at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the sale, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the 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 sale, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company's stock.

Institutional Investors Weigh In On Popular

Several hedge funds have recently added to or reduced their stakes in BPOP. TCW Group Inc. increased its position in shares of Popular by 15.2% during the third quarter. TCW Group Inc. now owns 94,815 shares of the bank's stock worth $9,507,000 after acquiring an additional 12,494 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Popular by 7.3% during the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after buying an additional 71,782 shares during the last quarter. Cerity Partners LLC raised its position in Popular by 83.9% in the 3rd quarter. Cerity Partners LLC now owns 9,546 shares of the bank's stock valued at $957,000 after buying an additional 4,354 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Popular by 279.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,798 shares of the bank's stock valued at $3,890,000 after acquiring an additional 28,574 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Popular by 284.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank's stock worth $7,260,000 after purchasing an additional 53,590 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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.