Popular, Inc. (BPOP) Given Average Rating of “Hold” by Brokerages
Popular, Inc. (NASDAQ:BPOP) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $47.83.
Several equities research analysts have recently commented on the company. Zacks Investment Research cut Popular from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub raised Popular from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $51.00 target price on shares of Popular in a research note on Thursday, June 29th. TheStreet raised Popular from a “c+” rating to a “b” rating in a research note on Tuesday, April 25th. Finally, BTIG Research reissued a “neutral” rating on shares of Popular in a research note on Saturday, April 22nd.
In related news, VP Jorge J. Garcia sold 4,000 shares of Popular stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $38.15, for a total transaction of $152,600.00. Following the completion of the sale, the vice president now directly owns 11,502 shares of the company’s stock, valued at $438,801.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.27% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in BPOP. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Popular by 5.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 6,261,030 shares of the bank’s stock worth $261,148,000 after buying an additional 343,637 shares during the period. BlackRock Inc. boosted its stake in shares of Popular by 12.7% in the second quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock worth $209,937,000 after buying an additional 567,642 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Popular by 4.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,197,066 shares of the bank’s stock worth $175,060,000 after buying an additional 175,571 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Popular by 19.1% in the first quarter. Frontier Capital Management Co. LLC now owns 3,441,716 shares of the bank’s stock worth $140,181,000 after buying an additional 551,662 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Popular by 37.9% in the first quarter. AQR Capital Management LLC now owns 3,334,844 shares of the bank’s stock worth $135,829,000 after buying an additional 916,126 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.
Shares of Popular (BPOP) traded down 0.69% on Tuesday, reaching $40.50. The company had a trading volume of 421,943 shares. The firm has a market cap of $4.13 billion, a P/E ratio of 18.29 and a beta of 1.28. The company has a 50-day moving average price of $41.53 and a 200-day moving average price of $41.08. Popular has a one year low of $35.08 and a one year high of $45.96.
Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The company had revenue of $491.27 million during the quarter, compared to analysts’ expectations of $500.66 million. Popular had a return on equity of 7.11% and a net margin of 11.57%. During the same period last year, the firm earned $0.85 EPS. On average, analysts expect that Popular will post $3.84 earnings per share for the current fiscal year.
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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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