Popular (NASDAQ:BPOP) Now Covered by Analysts at UBS Group

Investment analysts at UBS Group assumed coverage on shares of Popular (NASDAQ:BPOP) in a research report issued on Tuesday. The firm set a “neutral” rating on the bank’s stock.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada lowered their price target on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays lifted their price target on Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company lifted their target price on Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Piper Sandler decreased their target price on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Popular currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Popular Trading Down 1.1 %

NASDAQ BPOP traded down $1.01 during mid-day trading on Tuesday, reaching $94.73. 69,756 shares of the company’s stock traded hands, compared to its average volume of 427,556. Popular has a 1-year low of $79.01 and a 1-year high of $105.01. The company has a fifty day simple moving average of $96.58 and a 200-day simple moving average of $95.33. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.76 and a beta of 0.81.

Popular (NASDAQ:BPOP) last announced its quarterly 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). The company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. Equities research analysts forecast that Popular will post 8.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the transaction, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Popular

Large investors have recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new stake in shares of Popular in the 3rd quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of Popular in the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new position in shares of Popular in the 3rd quarter worth approximately $47,000. Meeder Asset Management Inc. acquired a new position in shares of Popular in the 2nd quarter worth approximately $48,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Popular in the 3rd quarter worth approximately $81,000. 87.27% of the stock is currently owned by institutional investors.

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.