Popular (NASDAQ:BPOP) Stock Rating Upgraded by StockNews.com

Popular (NASDAQ:BPOPGet Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Separately, Piper Sandler cut their price objective on Popular to $100.00 in a report on Monday, July 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $109.60.

Popular Stock Performance

Shares of Popular stock opened at $75.35 on Wednesday. Popular has a 52-week low of $72.43 and a 52-week high of $99.49. The stock’s 50-day simple moving average is $78.59 and its 200 day simple moving average is $79.48. The stock has a market capitalization of $5.65 billion, a P/E ratio of 6.77 and a beta of 0.90.

Popular (NASDAQ:BPOPGet Rating) last posted its earnings results on Thursday, July 28th. The bank reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.25. The business had revenue of $681.90 million during the quarter, compared to analyst estimates of $656.27 million. Popular had a return on equity of 16.82% and a net margin of 31.09%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.66 EPS. Equities research analysts forecast that Popular will post 10.8 EPS for the current fiscal year.

Insider Activity at Popular

In related news, VP Jorge J. Garcia sold 1,383 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $80.22, for a total transaction of $110,944.26. Following the completion of the transaction, the vice president now owns 9,299 shares in the company, valued at $745,965.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Jorge J. Garcia sold 1,383 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $80.22, for a total value of $110,944.26. Following the sale, the vice president now directly owns 9,299 shares of the company’s stock, valued at $745,965.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Carlos J. Vazquez sold 9,635 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $80.38, for a total value of $774,461.30. Following the completion of the sale, the chief financial officer now directly owns 118,015 shares in the company, valued at $9,486,045.70. The disclosure for this sale can be found here. Insiders sold a total of 16,018 shares of company stock worth $1,290,856 over the last quarter. 1.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Popular

A number of institutional investors have recently modified their holdings of BPOP. Riverview Trust Co purchased a new stake in shares of Popular in the second quarter worth $25,000. Private Trust Co. NA purchased a new stake in shares of Popular during the second quarter valued at $26,000. CWM LLC boosted its position in shares of Popular by 102.2% during the second quarter. CWM LLC now owns 362 shares of the bank’s stock valued at $28,000 after buying an additional 183 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Popular during the first quarter valued at $33,000. Finally, Denali Advisors LLC boosted its position in shares of Popular by 485.0% during the first quarter. Denali Advisors LLC now owns 468 shares of the bank’s stock valued at $38,000 after buying an additional 388 shares during the last quarter. 91.48% of the stock is owned by hedge funds and other institutional investors.

About Popular

(Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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.

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