Popular Inc (BPOP) Receives Average Rating of “Buy” from Analysts

Shares of Popular Inc (NASDAQ:BPOP) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $47.25.

Several equities research analysts have weighed in on the company. Citigroup upped their price target on Popular from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Morgan Stanley upped their price target on Popular from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Barclays upped their price target on Popular from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. BTIG Research restated a “buy” rating on shares of Popular in a report on Tuesday, January 23rd. Finally, BidaskClub upgraded Popular from a “sell” rating to a “hold” rating in a report on Thursday, January 11th.

Shares of Popular (BPOP) traded up $0.30 during midday trading on Tuesday, reaching $39.92. The company’s stock had a trading volume of 623,552 shares, compared to its average volume of 883,848. Popular has a 12 month low of $32.04 and a 12 month high of $45.96. The stock has a market cap of $4,184.83, a P/E ratio of 39.12 and a beta of 1.19.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.22. Popular had a return on equity of 5.25% and a net margin of 4.89%. The company had revenue of $473.35 million for the quarter. research analysts anticipate that Popular will post 3.88 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Popular by 12.7% during the 2nd quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock worth $209,937,000 after acquiring an additional 567,642 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Popular by 58.5% during the 2nd quarter. Royal Bank of Canada now owns 90,040 shares of the bank’s stock worth $3,756,000 after acquiring an additional 33,229 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Popular during the 3rd quarter worth about $9,497,000. Sei Investments Co. boosted its position in shares of Popular by 126.4% during the 3rd quarter. Sei Investments Co. now owns 45,544 shares of the bank’s stock worth $1,636,000 after acquiring an additional 25,424 shares in the last quarter. Finally, Stevens Capital Management LP boosted its position in shares of Popular by 30.9% during the 3rd quarter. Stevens Capital Management LP now owns 63,503 shares of the bank’s stock worth $2,282,000 after acquiring an additional 14,975 shares in the last quarter. 88.26% of the stock is 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.

Analyst Recommendations for Popular (NASDAQ:BPOP)

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