Popular (NASDAQ:BPOP) Price Target Raised to $180.00 at Wells Fargo & Company

Popular (NASDAQ:BPOP) had its price objective boosted by analysts at Wells Fargo & Company from $165.00 to $180.00 in a research report issued on Monday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.62% from the company’s current price.

A number of other research analysts have also issued reports on BPOP. Weiss Ratings upgraded shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 4th. UBS Group boosted their target price on Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Piper Sandler increased their target price on Popular from $173.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Barclays raised their price target on Popular from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Citigroup lifted their price target on Popular from $178.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $172.73.

Popular Price Performance

Shares of NASDAQ BPOP opened at $167.26 on Monday. The stock has a fifty day moving average price of $154.07 and a 200 day moving average price of $141.40. Popular has a 1-year low of $108.74 and a 1-year high of $170.02. The company has a market cap of $10.79 billion, a PE ratio of 12.35, a P/E/G ratio of 0.84 and a beta of 0.61.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.48. The company had revenue of $816.08 million for the quarter, compared to analysts’ expectations of $866.54 million. Popular had a net margin of 20.10% and a return on equity of 14.53%. During the same period in the previous year, the company posted $2.56 EPS. Analysts anticipate that Popular will post 15.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Popular news, Director Alejandro M. Ballester sold 23,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total value of $3,450,000.00. Following the sale, the director owned 34,588 shares of the company’s stock, valued at approximately $5,188,200. This represents a 39.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $148.51, for a total value of $920,762.00. Following the completion of the transaction, the executive vice president owned 11,255 shares of the company’s stock, valued at approximately $1,671,480.05. This represents a 35.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,500 shares of company stock worth $4,415,870 in the last quarter. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On Popular

Large investors have recently added to or reduced their stakes in the business. Acumen Wealth Advisors LLC purchased a new stake in shares of Popular in the fourth quarter valued at about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Popular during the 4th quarter worth approximately $28,000. Parallel Advisors LLC lifted its stake in Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after buying an additional 102 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Popular in the 3rd quarter valued at approximately $31,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Popular during the 4th quarter valued at $50,000. 87.27% of the stock is owned by institutional investors and hedge funds.

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.