Popular, Inc. (BPOP) Lifted to “Buy” at Compass Point
Popular, Inc. (NASDAQ:BPOP) was upgraded by research analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports.
A number of other analysts have also weighed in on BPOP. Morgan Stanley restated an “equal weight” rating and issued a $43.00 target price (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, July 10th. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 target price on shares of Popular in a research report on Friday, July 28th. ValuEngine lowered shares of Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Barclays PLC cut their target price on shares of Popular from $47.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.75.
Popular (BPOP) traded up $0.05 during midday trading on Friday, hitting $34.15. 1,516,007 shares of the company traded hands, compared to its average volume of 1,551,081. The firm has a market cap of $3,484.19, a price-to-earnings ratio of 11.86 and a beta of 1.33. Popular has a twelve month low of $32.04 and a twelve month high of $45.96.
TRADEMARK VIOLATION WARNING: “Popular, Inc. (BPOP) Lifted to “Buy” at Compass Point” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/11/05/popular-inc-bpop-lifted-to-buy-at-compass-point.html.
Institutional investors have recently modified their holdings of the business. Morgan Stanley boosted its position in Popular by 18.2% in the first quarter. Morgan Stanley now owns 567,202 shares of the bank’s stock valued at $23,102,000 after buying an additional 87,306 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Popular by 3.7% during the second quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock valued at $63,098,000 after acquiring an additional 53,446 shares during the last quarter. BlackRock Inc. raised its stake in shares of Popular by 12.7% during the second quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock valued at $209,937,000 after acquiring an additional 567,642 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Popular by 36.1% during the second quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock valued at $22,996,000 after acquiring an additional 146,370 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of Popular by 0.4% during the second quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock valued at $4,316,000 after acquiring an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 85.56% 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.
Receive News & Ratings for Popular Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular Inc. and related companies with MarketBeat.com's FREE daily email newsletter.