Popular (NASDAQ:BPOP) Given New $104.00 Price Target at Barclays

Popular (NASDAQ:BPOP) had its price objective reduced by Barclays from $117.00 to $104.00 in a report released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the bank’s stock.

Several other equities research analysts have also recently issued reports on BPOP. Royal Bank of Canada boosted their price objective on shares of Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. 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. Piper Sandler assumed coverage on Popular in a report on Monday, August 26th. They set an “overweight” rating and a $112.00 price objective on the stock. Wells Fargo & Company cut Popular from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $115.00 to $105.00 in a report on Tuesday, October 1st. Finally, Hovde Group lifted their price objective on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.88.

Popular Trading Down 0.6 %

Shares of NASDAQ BPOP traded down $0.50 during trading hours on Thursday, hitting $88.47. 43,646 shares of the company traded hands, compared to its average volume of 410,792. The company’s 50 day moving average price is $98.54 and its 200 day moving average price is $93.04. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. Popular has a 12 month low of $61.99 and a 12 month high of $105.01.

Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a net margin of 12.20% and a return on equity of 11.73%. The business had revenue of $736.56 million for the quarter, compared to analysts’ expectations of $766.62 million. During the same quarter last year, the firm earned $1.90 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Popular will post 8.74 EPS for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.62 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.80%. Popular’s dividend payout ratio is presently 36.80%.

Insider Activity

In other news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its position in Popular by 3.6% during 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 in the last quarter. Sei Investments Co. raised its position in shares of Popular by 2.2% in the 1st quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock valued at $24,898,000 after purchasing an additional 6,067 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Popular by 249.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock worth $2,904,000 after purchasing an additional 23,436 shares in the last quarter. Algert Global LLC boosted its stake in Popular by 10.4% in the 2nd 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 in the last quarter. Finally, LSV Asset Management increased its stake in Popular by 1.4% during the 1st quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock valued at $62,402,000 after purchasing an additional 9,985 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Company Profile

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.