Popular (NASDAQ:BPOP) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday, October 27th.
Several other research analysts also recently issued reports on BPOP. Sandler O’Neill restated a “buy” rating and set a $58.00 price objective on shares of Popular in a research report on Monday, July 23rd. Citigroup lifted their price objective on Popular from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Barclays lifted their price objective on Popular from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 24th. Royal Bank of Canada restated a “buy” rating and set a $55.00 price objective on shares of Popular in a research report on Wednesday, July 25th. Finally, Morgan Stanley boosted their price target on Popular from $50.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 31st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.88.
Shares of NASDAQ:BPOP traded up $0.22 during trading on Friday, hitting $53.40. 521,190 shares of the stock were exchanged, compared to its average volume of 933,298. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 19.93 and a beta of 1.07. Popular has a 12-month low of $34.20 and a 12-month high of $56.49.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.20. Popular had a return on equity of 8.13% and a net margin of 16.32%. The firm had revenue of $602.49 million during the quarter, compared to the consensus estimate of $586.10 million. During the same period in the previous year, the firm posted $0.19 EPS. On average, sell-side analysts expect that Popular will post 4.89 EPS for the current year.
In other Popular news, insider Juan Guerrero sold 6,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $53.31, for a total value of $319,860.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.27% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BPOP. Nisa Investment Advisors LLC purchased a new stake in shares of Popular during the 2nd quarter valued at $118,000. Cerebellum GP LLC purchased a new stake in shares of Popular during the 2nd quarter valued at $176,000. Sun Life Financial INC purchased a new stake in shares of Popular during the 2nd quarter valued at $206,000. Balasa Dinverno & Foltz LLC purchased a new stake in shares of Popular during the 3rd quarter valued at $212,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Popular by 276.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,499 shares of the bank’s stock valued at $230,000 after buying an additional 3,303 shares during the period. 84.01% of the stock is owned by institutional investors.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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