Popular (NASDAQ:BPOP) Price Target Raised to $110.00 at Wells Fargo & Company

Popular (NASDAQ:BPOP) had its price objective increased by Wells Fargo & Company from $105.00 to $110.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

BPOP has been the topic of a number of other reports. Barclays upped their target price on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their target price on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group started coverage on Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target on the stock. Finally, Piper Sandler decreased their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and an average price target of $112.25.

Popular Price Performance

Shares of Popular stock opened at $103.49 on Thursday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.69 and a beta of 0.81. The business has a 50-day moving average of $97.17 and a 200 day moving average of $97.39. Popular has a 12 month low of $80.60 and a 12 month high of $106.46.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Equities research analysts anticipate that Popular will post 10.06 earnings per share for the current year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Friday, December 6th. This is a boost from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio is 32.71%.

Insider Activity at Popular

In related news, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the sale, the executive vice president now directly owns 25,115 shares in the company, valued at $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the transaction, the vice president now owns 3,332 shares of the company’s stock, valued at $325,569.72. The trade was a 35.39 % 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

Several institutional investors have recently modified their holdings of BPOP. Renaissance Technologies LLC acquired a new position in shares of Popular during the 2nd quarter worth $444,000. Creative Planning grew its position in shares of Popular by 18.0% in the second quarter. Creative Planning now owns 7,406 shares of the bank’s stock valued at $655,000 after purchasing an additional 1,132 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Popular in the second quarter worth $569,000. SG Americas Securities LLC lifted its position in shares of Popular by 36.9% in the third quarter. SG Americas Securities LLC now owns 19,630 shares of the bank’s stock valued at $1,968,000 after acquiring an additional 5,287 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Popular by 8.6% during the third quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank’s stock valued at $388,000 after acquiring an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.