Popular, Inc. (NASDAQ:BPOP) was upgraded by equities research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Barclays PLC lowered their price objective on shares of Popular from $47.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 price objective on shares of Popular in a research report on Friday, July 28th. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Finally, ValuEngine upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Popular presently has a consensus rating of “Hold” and a consensus target price of $46.33.

Shares of Popular (NASDAQ:BPOP) traded up 8.65% during mid-day trading on Tuesday, hitting $37.05. 1,231,526 shares of the stock were exchanged. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 16.73 and a beta of 1.25. Popular has a 1-year low of $32.04 and a 1-year high of $45.96. The company’s 50-day moving average is $36.11 and its 200-day moving average is $39.13.

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Several large investors have recently modified their holdings of the company. Wedge Capital Management L L P NC grew its position in shares of Popular by 0.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the bank’s stock worth $731,000 after buying an additional 75 shares during the period. Teacher Retirement System of Texas grew its position in shares of Popular by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock worth $347,000 after buying an additional 128 shares during the period. Suntrust Banks Inc. grew its position in shares of Popular by 0.9% during the 1st quarter. Suntrust Banks Inc. now owns 16,965 shares of the bank’s stock worth $690,000 after buying an additional 153 shares during the period. M&T Bank Corp grew its position in shares of Popular by 2.8% during the 2nd quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock worth $241,000 after buying an additional 159 shares during the period. Finally, Utah Retirement Systems grew its position in shares of Popular by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 18,609 shares of the bank’s stock worth $546,000 after buying an additional 200 shares during the period. Institutional investors own 85.56% of the company’s stock.

About Popular

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.

The Fly

Analyst Recommendations for Popular (NASDAQ:BPOP)

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