Popular Inc. (BPOP) Downgraded by BTIG Research
Popular Inc. (NASDAQ:BPOP) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. The analysts noted that the move was a valuation call.
Several other research analysts have also recently weighed in on BPOP. Barclays PLC boosted their price target on Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Zacks Investment Research upgraded Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. TheStreet upgraded Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. Piper Jaffray Cos. restated an “overweight” rating and issued a $48.00 price target on shares of Popular in a research note on Friday, August 26th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Popular in a research note on Wednesday, October 12th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.83.
Popular (NASDAQ:BPOP) opened at 41.49 on Tuesday. Popular has a 52 week low of $22.40 and a 52 week high of $42.83. The company has a market cap of $4.31 billion, a P/E ratio of 12.08 and a beta of 1.63. The firm has a 50-day moving average price of $38.47 and a 200 day moving average price of $34.75.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ 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 earnings per share. Analysts expect that Popular will post $3.03 EPS for the current fiscal year.
In related news, insider Juan Guerrero sold 7,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $41.88, for a total transaction of $293,160.00. Following the completion of the sale, the insider now owns 39,860 shares in the company, valued at $1,669,336.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard L. Carrion sold 16,858 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $37.44, for a total value of $631,163.52. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BPOP. The Manufacturers Life Insurance Company purchased a new stake in Popular during the third quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Popular by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,464 shares of the company’s stock worth $132,000 after buying an additional 337 shares during the period. Riverhead Capital Management LLC purchased a new stake in Popular during the third quarter worth approximately $141,000. Sei Investments Co. boosted its stake in Popular by 94.2% in the second quarter. Sei Investments Co. now owns 5,871 shares of the company’s stock worth $173,000 after buying an additional 2,848 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Popular during the second quarter worth approximately $195,000. Institutional investors own 84.72% of the company’s stock.
Popular Company Profile
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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