Truist Financial Boosts Popular (NASDAQ:BPOP) Price Target to $164.00

Popular (NASDAQ:BPOP) had its target price hoisted by equities research analysts at Truist Financial from $153.00 to $164.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 22.82% from the company’s previous close.

Several other analysts have also weighed in on BPOP. Royal Bank Of Canada raised their price objective on shares of Popular from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler assumed coverage on Popular in a report on Thursday, January 15th. They set an “overweight” rating and a $152.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods raised their target price on Popular from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company cut their price target on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Popular Price Performance

Shares of NASDAQ:BPOP opened at $133.53 on Thursday. The business’s fifty day moving average price is $123.66 and its two-hundred day moving average price is $120.62. Popular has a fifty-two week low of $78.23 and a fifty-two week high of $134.27. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.55 and a beta of 0.63.

Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.36. The business had revenue of $815.98 million for the quarter, compared to analyst estimates of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.87%. During the same quarter in the prior year, the firm earned $2.51 EPS. Research analysts expect that Popular will post 10.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Adorno Denissa Rodriguez sold 1,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $114.84, for a total value of $114,840.00. Following the completion of the sale, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. This represents a 27.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard L. Carrion sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the transaction, the director owned 193,020 shares in the company, valued at approximately $21,907,770. This trade represents a 11.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Popular

Several large investors have recently bought and sold shares of BPOP. Royal Bank of Canada boosted its position in shares of Popular by 23.1% during the first quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock worth $8,715,000 after purchasing an additional 17,729 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Popular during the 1st quarter worth $257,000. Goldman Sachs Group Inc. lifted its holdings in Popular by 60.6% during the first quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock worth $20,647,000 after acquiring an additional 84,327 shares in the last quarter. Focus Partners Wealth acquired a new position in Popular in the first quarter valued at about $207,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of Popular in the second quarter worth about $252,000. Institutional investors own 87.27% of the company’s stock.

About Popular

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.