Popular (NASDAQ:BPOP) Price Target Cut to $103.00 by Analysts at Barclays

Popular (NASDAQ:BPOP) had its target price cut by stock analysts at Barclays from $105.00 to $103.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Barclays‘s price objective would indicate a potential upside of 17.54% from the stock’s previous close.

BPOP has been the subject of several other research reports. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Wells Fargo & Company boosted their target price on Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Hovde Group boosted their target price on Popular from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler boosted their target price on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $110.00 target price (up previously from $103.00) on shares of Popular in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Popular presently has an average rating of “Moderate Buy” and an average price target of $99.67.

Popular Stock Performance

BPOP stock traded up $2.55 during trading on Monday, hitting $87.63. The stock had a trading volume of 298,047 shares, compared to its average volume of 393,156. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.79. The company’s 50 day moving average price is $87.24 and its two-hundred day moving average price is $84.69. Popular has a 1-year low of $58.96 and a 1-year high of $93.09.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.87 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.09). The business had revenue of $714.56 million during the quarter, compared to analysts’ expectations of $706.00 million. Popular had a net margin of 11.95% and a return on equity of 11.67%. As a group, sell-side analysts forecast that Popular will post 8.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gilberto Monzon sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total transaction of $429,000.00. Following the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Popular news, EVP Gilberto Monzon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Manuel Chinea sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $90.70, for a total value of $1,088,400.00. Following the completion of the transaction, the executive vice president now directly owns 27,086 shares in the company, valued at $2,456,700.20. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Popular

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Popular in the 1st quarter valued at approximately $42,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Popular during the 4th quarter valued at approximately $44,000. Principal Securities Inc. acquired a new stake in shares of Popular during the 4th quarter valued at approximately $83,000. GAMMA Investing LLC acquired a new stake in shares of Popular during the 4th quarter valued at approximately $90,000. Finally, Clear Street Markets LLC acquired a new stake in shares of Popular during the 4th quarter valued at approximately $139,000. 87.27% of the stock is owned by institutional investors and hedge funds.

About Popular

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.