Popular (NASDAQ:BPOP) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other research analysts have also commented on the stock. Barclays dropped their price objective on shares of Popular from $47.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Zacks Investment Research lowered shares of Popular from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Compass Point upgraded shares of Popular from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. BTIG Research upgraded shares of Popular from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $50.50 price objective on shares of Popular in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $46.75.

Shares of Popular (NASDAQ:BPOP) traded up $0.28 during trading hours on Friday, reaching $35.64. 1,130,000 shares of the company traded hands, compared to its average volume of 1,192,228. Popular has a 12-month low of $32.04 and a 12-month high of $45.96. The firm has a market cap of $3,636.21, a price-to-earnings ratio of 12.37 and a beta of 1.31.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, October 31st. The bank reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). The company had revenue of $478.50 million for the quarter, compared to analyst estimates of $513.85 million. Popular had a return on equity of 5.70% and a net margin of 9.98%. Popular’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. analysts anticipate that Popular will post 2.45 EPS for the current fiscal year.

Several large investors have recently modified their holdings of BPOP. Investec Asset Management LTD boosted its holdings in shares of Popular by 270.1% in the third quarter. Investec Asset Management LTD now owns 3,640,138 shares of the bank’s stock valued at $130,827,000 after acquiring an additional 2,656,548 shares in the last quarter. Polaris Capital Management LLC boosted its holdings in shares of Popular by 35.9% in the second quarter. Polaris Capital Management LLC now owns 3,149,712 shares of the bank’s stock valued at $131,374,000 after acquiring an additional 831,871 shares in the last quarter. Stilwell Value LLC boosted its holdings in shares of Popular by 4,071.0% in the second quarter. Stilwell Value LLC now owns 834,200 shares of the bank’s stock valued at $834,000 after acquiring an additional 814,200 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Popular by 12.7% in 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 in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Popular by 63.9% in the third quarter. Prudential Financial Inc. now owns 903,755 shares of the bank’s stock valued at $32,480,000 after acquiring an additional 352,420 shares in the last quarter. 88.97% of the stock is currently owned by institutional investors and hedge funds.

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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.

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Analyst Recommendations for Popular (NASDAQ:BPOP)

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