Popular, Inc. (BPOP) Raised to “Buy” at Compass Point
Compass Point upgraded shares of Popular, Inc. (NASDAQ:BPOP) from a neutral rating to a buy rating in a report published on Friday morning, MarketBeat reports.
A number of other equities research analysts have also recently weighed in on the company. Barclays PLC upped their price target on Popular from $44.00 to $45.00 and gave the stock an overweight rating in a report on Wednesday, November 1st. Piper Jaffray Companies restated a buy rating and issued a $50.50 price target on shares of Popular in a report on Wednesday, November 1st. BTIG Research upgraded Popular from a neutral rating to a buy rating in a report on Tuesday, October 31st. Zacks Investment Research cut Popular from a buy rating to a sell rating in a report on Tuesday, October 3rd. Finally, ValuEngine upgraded Popular from a hold rating to a buy rating in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $46.75.
Popular (NASDAQ BPOP) traded down $0.29 on Friday, hitting $33.86. The company had a trading volume of 623,138 shares, compared to its average volume of 1,593,710. The firm has a market cap of $3,484.20, a PE ratio of 11.86 and a beta of 1.33. Popular has a 1-year low of $32.04 and a 1-year high of $45.96.
Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.76). The firm had revenue of $478.50 million during the quarter, compared to analyst estimates of $513.85 million. Popular had a return on equity of 5.72% and a net margin of 9.98%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. equities research analysts forecast that Popular will post 3.36 earnings per share for the current year.
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A number of large investors have recently made changes to their positions in BPOP. BlackRock Inc. boosted its holdings in shares of Popular by 13,970.4% during the first quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock worth $181,886,000 after purchasing an additional 4,433,912 shares during the last quarter. Polaris Capital Management LLC boosted its holdings in shares of Popular by 35.9% during the second quarter. Polaris Capital Management LLC now owns 3,149,712 shares of the bank’s stock worth $131,374,000 after purchasing an additional 831,871 shares during the last quarter. Stilwell Value LLC boosted its holdings in shares of Popular by 4,071.0% during the second quarter. Stilwell Value LLC now owns 834,200 shares of the bank’s stock worth $834,000 after purchasing an additional 814,200 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Popular by 63.9% during the third quarter. Prudential Financial Inc. now owns 903,755 shares of the bank’s stock worth $32,480,000 after purchasing an additional 352,420 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Popular by 5.8% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 6,261,030 shares of the bank’s stock worth $261,148,000 after purchasing an additional 343,637 shares during the last quarter. Hedge funds and other institutional investors own 84.82% 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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