Popular (NASDAQ:BPOP) PT Lowered to $104.00 at Barclays

Popular (NASDAQ:BPOP) had its target price lowered by equities research analysts at Barclays from $117.00 to $104.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 15.90% from the company’s current price.

Several other brokerages also recently issued reports on BPOP. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Hovde Group lifted their target price on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company cut Popular from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $115.00 to $105.00 in a research report on Tuesday, October 1st. Piper Sandler began coverage on Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 price objective on the stock. Finally, Royal Bank of Canada upped their price target on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three investment 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.com, Popular presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.75.

Popular Stock Down 10.2 %

Popular stock opened at $89.73 on Thursday. The company has a market capitalization of $6.48 billion, a P/E ratio of 13.31, a PEG ratio of 0.66 and a beta of 0.78. Popular has a twelve month low of $59.27 and a twelve month high of $105.01. The stock’s 50 day moving average is $98.70 and its 200 day moving average is $93.07.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same quarter in the prior year, the business posted $2.10 EPS. As a group, equities analysts expect that Popular will post 8.74 EPS for the current year.

Insider Buying and Selling

In other news, EVP Camille Burckhart sold 5,917 shares of the business’s 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 sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Popular

A number of large investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its stake in shares of Popular by 3.6% in the 1st quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock valued at $25,924,000 after buying an additional 10,308 shares during the period. Sei Investments Co. increased its stake in Popular by 2.2% in the first quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock valued at $24,898,000 after acquiring an additional 6,067 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Popular by 249.1% during the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock valued at $2,904,000 after buying an additional 23,436 shares during the last quarter. Algert Global LLC boosted its holdings in shares of 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 during the period. Finally, LSV Asset Management lifted its holdings in Popular by 1.4% in the first quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock worth $62,402,000 after buying an additional 9,985 shares during the period. Institutional investors and hedge funds 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.