Popular, Inc. (NASDAQ:BPOP - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $106.58 and last traded at $106.54, with a volume of 129095 shares trading hands. The stock had previously closed at $104.41.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on BPOP. Barclays raised their target price on Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Royal Bank of Canada raised their target price on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Piper Sandler dropped their price objective on Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Two equities research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.25.
Get Our Latest Stock Report on Popular
Popular Trading Down 3.1 %
The stock has a 50-day simple moving average of $98.51 and a 200-day simple moving average of $97.73. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. As a group, research analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, the executive vice president now owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now directly owns 39,170 shares in the company, valued at $4,017,666.90. This represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Popular
A number of institutional investors and hedge funds have recently modified their holdings of BPOP. Proficio Capital Partners LLC acquired a new stake in shares of Popular during the fourth quarter worth $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Popular during the third quarter worth $29,000. Picton Mahoney Asset Management raised its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 118 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Popular during the third quarter worth $35,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Popular during the third quarter worth $47,000. 87.27% of the stock is owned by institutional investors and hedge funds.
About Popular
(
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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