Popular, Inc. (NASDAQ:BPOP – Get Free Report)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $179.00 and last traded at $177.87, with a volume of 42380 shares changing hands. The stock had previously closed at $176.18.
Wall Street Analyst Weigh In
BPOP has been the subject of several research reports. Royal Bank Of Canada upped their price objective on shares of Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler reissued an “overweight” rating and issued a $198.00 price target (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Weiss Ratings restated a “buy (a-)” rating on shares of Popular in a report on Friday, July 31st. Barclays lifted their price objective on Popular from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods increased their target price on Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $186.92.
Read Our Latest Research Report on BPOP
Popular Stock Performance
Popular (NASDAQ:BPOP – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.63. The business had revenue of $846.92 million during the quarter, compared to analysts’ expectations of $878.41 million. Popular had a return on equity of 15.47% and a net margin of 21.37%.During the same quarter in the previous year, the business earned $3.09 earnings per share. On average, analysts predict that Popular, Inc. will post 15.72 earnings per share for the current fiscal year.
Insider Activity
In other Popular news, Director Alejandro M. Sanchez sold 300 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the completion of the sale, the director directly owned 3,960 shares in the company, valued at $595,425.60. The trade was a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maria Luisa Ferre sold 3,385 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $175.42, for a total transaction of $593,796.70. Following the sale, the director directly owned 10,156 shares of the company’s stock, valued at approximately $1,781,565.52. This represents a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,261 shares of company stock worth $9,336,093. 2.13% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Popular
Several large investors have recently added to or reduced their stakes in BPOP. Parallel Advisors LLC lifted its stake in Popular by 30.5% during the 1st quarter. Parallel Advisors LLC now owns 321 shares of the bank’s stock worth $43,000 after acquiring an additional 75 shares in the last quarter. Xponance LLC grew its position in Popular by 2.1% in the 4th quarter. Xponance LLC now owns 3,892 shares of the bank’s stock valued at $485,000 after acquiring an additional 80 shares in the last quarter. Gamco Investors INC. ET AL grew its position in Popular by 1.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 7,262 shares of the bank’s stock valued at $974,000 after acquiring an additional 84 shares in the last quarter. Severin Investments LLC increased its stake in Popular by 1.9% during the first quarter. Severin Investments LLC now owns 4,799 shares of the bank’s stock worth $644,000 after purchasing an additional 91 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in Popular by 1.7% during the first quarter. Sequoia Financial Advisors LLC now owns 5,693 shares of the bank’s stock worth $764,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 87.27% of the company’s stock.
Popular Company Profile
Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.
The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.
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