Popular (NASDAQ:BPOP) Given New $180.00 Price Target at Wells Fargo & Company

Popular (NASDAQ:BPOP) had its price target lifted by Wells Fargo & Company from $165.00 to $180.00 in a research note released on Monday, Marketbeat Ratings reports. They currently have an overweight rating on the bank’s stock.

A number of other equities analysts have also issued reports on BPOP. Piper Sandler raised their price target on shares of Popular from $173.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 4th. Royal Bank Of Canada increased their price objective on shares of Popular from $141.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Barclays upped their price target on shares of Popular from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $172.73.

Popular Stock Performance

Shares of BPOP stock opened at $169.29 on Monday. The stock’s 50-day simple moving average is $154.45 and its 200-day simple moving average is $141.73. The firm has a market capitalization of $10.93 billion, a PE ratio of 12.45, a P/E/G ratio of 0.84 and a beta of 0.61. Popular has a fifty-two week low of $108.74 and a fifty-two week high of $170.01.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.48. The firm had revenue of $816.08 million during the quarter, compared to the consensus estimate of $866.54 million. Popular had a return on equity of 14.53% and a net margin of 20.10%.During the same quarter in the previous year, the company posted $2.56 earnings per share. Sell-side analysts forecast that Popular will post 15.13 earnings per share for the current year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio is currently 22.16%.

Insider Transactions at Popular

In related news, Director Alejandro M. Ballester sold 23,000 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $150.00, for a total value of $3,450,000.00. Following the completion of the transaction, the director directly owned 34,588 shares in the company, valued at $5,188,200. The trade was a 39.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alejandro M. Sanchez sold 300 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the sale, the director directly owned 3,960 shares in the company, valued at $595,425.60. This trade represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,500 shares of company stock valued at $4,415,870 in the last 90 days. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Popular during the 4th quarter valued at about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Popular in the 4th quarter worth about $28,000. Parallel Advisors LLC raised its holdings in Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after purchasing an additional 102 shares during the period. Advisory Services Network LLC purchased a new position in Popular during the third quarter worth approximately $31,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Popular during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Company Profile

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.