Popular Inc. (BPOP) Upgraded to “Hold” by Zacks Investment Research
Popular Inc. (NASDAQ:BPOP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Popular, Inc. is a diversified, publicly owned bank holding company. The corporation’s principal subsidiary, Banco Popular de Puerto Rico, has one of the largest retail franchise in Puerto Rico, operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands, the British Virgin Islands, and New York. “
BPOP has been the subject of several other research reports. Piper Jaffray Cos. reiterated an “overweight” rating and set a $48.00 target price on shares of Popular in a research report on Friday, August 26th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Popular in a research note on Wednesday, October 12th. TheStreet raised Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. Barclays PLC increased their price target on Popular from $32.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, Compass Point lowered Popular from a “buy” rating to a “neutral” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Popular presently has an average rating of “Buy” and a consensus price target of $37.83.
Shares of Popular (NASDAQ:BPOP) traded down 0.38% during trading on Friday, reaching $41.72. The company’s stock had a trading volume of 666,496 shares. Popular has a 12-month low of $22.40 and a 12-month high of $42.83. The company has a 50 day moving average of $38.38 and a 200-day moving average of $34.58. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 12.15 and a beta of 1.63.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 25th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by $0.44. Popular had a return on equity of 6.99% and a net margin of 17.25%. During the same period in the previous year, the firm posted $0.82 EPS. Analysts forecast that Popular will post $3.03 EPS for the current year.
In other news, CEO Richard L. Carrion sold 16,858 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $37.44, for a total value of $631,163.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eli Sepulveda sold 3,762 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $36.97, for a total value of $139,081.14. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
Several large investors have recently modified their holdings of BPOP. Vanguard Group Inc. raised its stake in shares of Popular by 7.2% in the second quarter. Vanguard Group Inc. now owns 8,816,983 shares of the company’s stock worth $258,337,000 after buying an additional 595,934 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Popular by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,446,248 shares of the company’s stock worth $100,970,000 after buying an additional 556,697 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Popular by 4.0% in the second quarter. Chartwell Investment Partners LLC now owns 3,327,109 shares of the company’s stock worth $97,484,000 after buying an additional 127,999 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Popular by 3.7% in the second quarter. Frontier Capital Management Co. LLC now owns 2,624,103 shares of the company’s stock worth $76,886,000 after buying an additional 93,603 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Popular by 1.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,580,653 shares of the company’s stock worth $98,633,000 after buying an additional 36,021 shares in the last quarter. 85.99% of the stock is owned by hedge funds and other institutional investors.
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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