Popular Inc. (BPOP) Stock Rating Lowered by Compass Point
Popular Inc. (NASDAQ:BPOP) was downgraded by research analysts at Compass Point from a “buy” rating to a “neutral” rating in a research note issued on Friday.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Popular from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Popular in a research report on Wednesday, October 12th. Piper Jaffray Cos. restated an “overweight” rating and issued a $48.00 price target on shares of Popular in a research report on Friday, August 26th. TheStreet upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. Finally, Barclays PLC upped their price target on shares of Popular from $32.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.83.
Shares of Popular (NASDAQ:BPOP) opened at 41.88 on Friday. Popular has a 12 month low of $22.40 and a 12 month high of $42.83. The stock has a market capitalization of $4.35 billion, a PE ratio of 12.19 and a beta of 1.63. The company’s 50-day moving average is $38.16 and its 200-day moving average is $34.45.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by $0.44. Popular had a net margin of 17.25% and a return on equity of 6.99%. During the same quarter in the previous year, the company posted $0.82 earnings per share. Equities research analysts expect that Popular will post $3.03 earnings per share for the current fiscal year.
In related news, EVP Eli Sepulveda sold 3,762 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $36.97, for a total value of $139,081.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard L. Carrion sold 16,858 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $37.44, for a total transaction of $631,163.52. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BPOP. Credit Suisse AG raised its position in Popular by 30.7% in the third quarter. Credit Suisse AG now owns 99,234 shares of the company’s stock worth $3,793,000 after buying an additional 23,331 shares during the last quarter. Verition Fund Management LLC purchased a new position in Popular during the third quarter worth about $238,000. Gerstein Fisher raised its position in Popular by 28.0% in the third quarter. Gerstein Fisher now owns 13,838 shares of the company’s stock worth $529,000 after buying an additional 3,023 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Popular by 63.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 262,607 shares of the company’s stock worth $10,037,000 after buying an additional 101,733 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Popular during the third quarter worth about $105,000. Institutional investors and hedge funds own 85.99% of the company’s stock.
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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