Popular (NASDAQ:BPOP) Price Target Raised to $117.00 at Barclays

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

BPOP has been the subject of a number of other reports. Piper Sandler began coverage on shares of Popular in a research report on Monday, August 26th. They issued an overweight rating and a $112.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $120.00 price target (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price target on Popular from $90.00 to $108.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Finally, Hovde Group upped their price objective on Popular from $113.00 to $123.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $106.22.

Popular Stock Up 1.7 %

BPOP stock opened at $100.27 on Friday. The firm has a market capitalization of $7.25 billion, a PE ratio of 14.88, a P/E/G ratio of 0.68 and a beta of 0.78. Popular has a twelve month low of $59.27 and a twelve month high of $105.01. The stock’s 50 day moving average is $98.84 and its 200-day moving average is $91.52.

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

Popular Announces Dividend

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

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of Popular during the first quarter worth $42,000. Mather Group LLC. bought a new position in Popular in the 2nd quarter worth about $44,000. Meeder Asset Management Inc. purchased a new position in Popular during the 2nd quarter valued at about $48,000. GAMMA Investing LLC increased its position in shares of Popular by 16.8% during the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after buying an additional 181 shares during the period. Finally, Clear Street Markets LLC purchased a new stake in shares of Popular in the fourth quarter worth about $139,000. 87.27% of the stock is 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.