Popular (NASDAQ:BPOP)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research report issued on Tuesday.
The analysts wrote, “Report Features Unusually Wide Range of Outcomes Shares of Popular Inc. (BPOP) have rebounded nicely from the five-week swoon that dragged down the stock after Hurricane Maria struck the company’s home market of Puerto Rico on September 20. BPOP, which has rallied by more than 18% since bottoming out at $32.29 on October 23, now faces its next test: the company’s 4Q17 report, which is scheduled to be released on Tuesday, January 23.””
Other equities research analysts also recently issued research reports about the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $50.50 target price on shares of Popular in a research note on Wednesday, November 1st. Compass Point raised shares of Popular from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. ValuEngine raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Citigroup assumed coverage on shares of Popular in a research note on Thursday, December 21st. They issued a “buy” rating and a $47.00 target price for the company. Finally, Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Popular currently has an average rating of “Buy” and an average target price of $45.93.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). The business had revenue of $478.50 million for the quarter, compared to the consensus estimate of $513.85 million. Popular had a return on equity of 5.70% and a net margin of 9.98%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. equities analysts anticipate that Popular will post 2.45 EPS for the current fiscal year.
Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Popular by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after buying an additional 200 shares during the period. Riverhead Capital Management LLC acquired a new position in shares of Popular in the third quarter valued at approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Popular by 12.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock valued at $162,000 after buying an additional 423 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Popular by 36.7% in the first quarter. Envestnet Asset Management Inc. now owns 6,480 shares of the bank’s stock valued at $185,000 after buying an additional 1,738 shares during the period. Finally, Sciencast Management LP acquired a new position in shares of Popular in the fourth quarter valued at approximately $202,000. 88.89% of the stock is owned by hedge funds and other institutional investors.
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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.
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