Popular (NASDAQ:BPOP) Given New $117.00 Price Target at Barclays

Popular (NASDAQ:BPOP) had its target price boosted by Barclays from $115.00 to $117.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the company. Hovde Group upped 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. Royal Bank of Canada upped their price objective on Popular from $90.00 to $108.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Piper Sandler began coverage on shares of Popular in a research report on Monday, August 26th. They set an overweight rating and a $112.00 target price on the stock. Finally, Keefe, Bruyette & Woods reissued an outperform rating and set a $120.00 target price (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $106.22.

Popular Trading Up 1.7 %

BPOP stock opened at $100.27 on Friday. The firm has a 50-day moving average price of $98.84 and a 200-day moving average price of $91.52. Popular has a 12 month low of $59.27 and a 12 month high of $105.01. The stock has a market capitalization of $7.25 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same quarter in the prior year, the firm earned $2.10 EPS. As a group, equities analysts predict that Popular will post 8.86 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, September 13th. Popular’s dividend payout ratio is presently 36.80%.

Insider Activity at Popular

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 transaction, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BPOP. Janney Montgomery Scott LLC raised its holdings in shares of Popular by 13.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,085 shares of the bank’s stock valued at $499,000 after purchasing an additional 729 shares during the period. UBS Group AG increased its holdings in shares of Popular by 12.7% during the fourth quarter. UBS Group AG now owns 139,694 shares of the bank’s stock valued at $11,465,000 after acquiring an additional 15,710 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Popular by 4.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 32,199 shares of the bank’s stock valued at $2,643,000 after acquiring an additional 1,301 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Popular by 51.2% during the fourth quarter. Rafferty Asset Management LLC now owns 89,643 shares of the bank’s stock worth $7,357,000 after purchasing an additional 30,354 shares during the period. Finally, Seven Eight Capital LP bought a new position in shares of Popular in the 4th quarter worth $809,000. 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.