Popular (NASDAQ:BPOP - Get Free Report) had its price objective cut by stock analysts at Royal Bank of Canada from $108.00 to $96.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the bank's stock. Royal Bank of Canada's price target would indicate a potential upside of 7.90% from the company's previous close.
Other equities research analysts also recently issued research reports about the company. Barclays lowered their price target on Popular from $117.00 to $104.00 and set an "overweight" rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $120.00 target price (up previously from $110.00) on shares of Popular in a research report on Thursday, July 25th. Wells Fargo & Company decreased their price target on shares of Popular from $105.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday. Piper Sandler cut 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. Finally, Hovde Group lifted their target price on shares of Popular from $113.00 to $123.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.88.
Get Our Latest Research Report on Popular
Popular Trading Down 0.8 %
Shares of NASDAQ BPOP traded down $0.76 during midday trading on Thursday, hitting $88.97. 877,874 shares of the company's stock were exchanged, compared to its average volume of 412,714. The business's fifty day moving average price is $98.54 and its two-hundred day moving average price is $93.04. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.66 and a beta of 0.78. Popular has a 12-month low of $59.27 and a 12-month high of $105.01.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.38. Popular had a net margin of 12.20% and a return on equity of 11.73%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $751.57 million. During the same quarter in the previous year, the company earned $2.10 EPS. Equities analysts expect that Popular will post 8.74 earnings per share for the current fiscal year.
Insider Activity at Popular
In other Popular news, EVP Camille Burckhart sold 5,917 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the sale, the executive vice president now directly owns 29,922 shares in the company, valued at $2,920,387.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.09% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Popular
Several hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in shares of Popular during the third quarter valued at approximately $29,000. Wealth Enhancement Advisory Services LLC boosted its stake in Popular by 28.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,918 shares of the bank's stock valued at $493,000 after purchasing an additional 1,103 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Popular by 171.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 78,441 shares of the bank's stock worth $7,865,000 after purchasing an additional 49,533 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Popular in the third quarter worth $1,468,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Popular by 8.4% during the third quarter. Sequoia Financial Advisors LLC now owns 5,298 shares of the bank's stock valued at $534,000 after purchasing an additional 410 shares in the last quarter. 87.27% of the stock is owned by institutional investors.
Popular Company Profile
(
Get Free Report)
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.
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