Popular (NASDAQ:BPOP - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $100.00 price target on the bank's stock, down from their previous price target of $110.00. Wells Fargo & Company's price target suggests a potential upside of 21.85% from the stock's current price.
BPOP has been the subject of a number of other research reports. StockNews.com raised shares of Popular from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Barclays upped their price target 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 lifted their target price on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on shares of Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, UBS Group started coverage on Popular in a research note on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price target for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $111.57.
Read Our Latest Analysis on BPOP
Popular Trading Down 0.1 %
NASDAQ BPOP traded down $0.12 on Wednesday, hitting $82.07. 174,531 shares of the company were exchanged, compared to its average volume of 472,541. The stock has a fifty day moving average of $94.10 and a 200-day moving average of $95.82. The company has a market cap of $5.69 billion, a PE ratio of 9.59, a PEG ratio of 0.75 and a beta of 0.62. Popular has a 12 month low of $78.23 and a 12 month high of $106.81.
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 the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, analysts expect that Popular will post 10.06 earnings per share for the current year.
Insider Buying and Selling
In other news, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 39,170 shares of the company's stock, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Popular
Several institutional investors and hedge funds have recently made changes to their positions in BPOP. Wedge Capital Management L L P NC increased its position in shares of Popular by 10.3% in the first quarter. Wedge Capital Management L L P NC now owns 23,117 shares of the bank's stock worth $2,135,000 after acquiring an additional 2,151 shares in the last quarter. Perkins Coie Trust Co grew its stake in Popular by 6.7% during the 1st quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock worth $296,000 after buying an additional 200 shares during the last quarter. Merit Financial Group LLC bought a new stake in Popular in the 1st quarter valued at about $710,000. NBC Securities Inc. boosted its position in Popular by 132,933.3% during the 1st quarter. NBC Securities Inc. now owns 3,991 shares of the bank's stock worth $368,000 after acquiring an additional 3,988 shares during the period. Finally, Summit Global Investments increased its stake in Popular by 27.3% during the 1st quarter. Summit Global Investments now owns 18,223 shares of the bank's stock valued at $1,683,000 after buying an additional 3,904 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.
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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