Wells Fargo & Company Raises Popular (NASDAQ:BPOP) Price Target to $105.00

Popular (NASDAQ:BPOP) had its price objective upped by stock analysts at Wells Fargo & Company from $90.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.19% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada dropped 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. Barclays lowered their price target on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Piper Sandler lowered 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.25.

Popular Stock Up 1.4 %

BPOP stock opened at $99.82 on Tuesday. The company has a market cap of $7.12 billion, a P/E ratio of 13.56, a PEG ratio of 0.77 and a beta of 0.81. Popular has a twelve month low of $74.97 and a twelve month high of $105.01. The business has a fifty day moving average of $96.51 and a 200-day moving average of $94.82.

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

Insider Activity at Popular

In related news, 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 completion of the transaction, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the 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 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 ownership of the stock. 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 have recently made changes to their positions in BPOP. Financial Management Professionals Inc. acquired a new stake in shares of Popular in the third quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new position in shares of Popular during the third quarter worth approximately $35,000. Mather Group LLC. bought a new position in shares of Popular during the second quarter worth approximately $44,000. Brooklyn Investment Group bought a new position in shares of Popular during the third quarter worth approximately $47,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Popular during the second quarter worth approximately $48,000. 87.27% of the stock is 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.