Popular (NASDAQ:BPOP) PT Lowered to $100.00

Popular (NASDAQ:BPOP) had its price target cut by analysts at Piper Sandler from $112.00 to $100.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Piper Sandler’s target price points to a potential upside of 11.47% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Hovde Group increased their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays lowered their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company cut shares of Popular from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $115.00 to $105.00 in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their target price on shares of Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.25.

Popular Stock Down 0.0 %

Shares of NASDAQ:BPOP traded down $0.02 during midday trading on Thursday, reaching $89.71. The company’s stock had a trading volume of 34,468 shares, compared to its average volume of 408,620. The firm has a 50 day moving average of $98.70 and a 200-day moving average of $93.07. The firm has a market capitalization of $6.48 billion, a P/E ratio of 13.33, 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) last posted its earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $751.57 million. During the same quarter in the prior year, the business earned $2.10 EPS. On average, research analysts predict that Popular will post 8.74 EPS for the current year.

Insider Activity at Popular

In other Popular news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Popular

A number of large investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in shares of Popular by 3.6% in the first quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock worth $25,924,000 after buying an additional 10,308 shares during the last quarter. Sei Investments Co. boosted its position in Popular by 2.2% during the first quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock worth $24,898,000 after purchasing an additional 6,067 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Popular by 249.1% during the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock worth $2,904,000 after purchasing an additional 23,436 shares in the last quarter. Algert Global LLC boosted its position in Popular by 10.4% during the second quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after purchasing an additional 8,317 shares in the last quarter. Finally, LSV Asset Management boosted its position in Popular by 1.4% during the first quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock worth $62,402,000 after purchasing an additional 9,985 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.