Popular (NASDAQ:BPOP - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Several other research firms have also recently commented on BPOP. UBS Group restated a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price target on Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a report on Thursday, July 24th. Hovde Group reiterated an "outperform" rating on shares of Popular in a report on Friday, August 29th. Finally, Barclays lifted their price target on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $130.13.
Check Out Our Latest Stock Report on BPOP
Popular Price Performance
BPOP opened at $125.24 on Tuesday. Popular has a 12 month low of $78.23 and a 12 month high of $129.32. The stock has a market cap of $8.46 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.66 and a beta of 0.68. The stock's 50 day moving average price is $121.57 and its 200 day moving average price is $107.65.
Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating the consensus estimate of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The firm had revenue of $800.03 million for the quarter, compared to analysts' expectations of $777.38 million. During the same period last year, the firm earned $2.46 EPS. Equities analysts anticipate that Popular will post 10.06 EPS for the current year.
Insider Activity at Popular
In other news, EVP Gilberto Monzon sold 18,001 shares of Popular stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the transaction, the executive vice president directly owned 24,773 shares in the company, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.09% of the company's stock.
Hedge Funds Weigh In On Popular
Several institutional investors and hedge funds have recently added to or reduced their stakes in BPOP. Wealth Enhancement Advisory Services LLC increased its stake in Popular by 21.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,975 shares of the bank's stock valued at $562,000 after acquiring an additional 1,057 shares during the period. NBC Securities Inc. increased its stake in Popular by 132,933.3% during the first quarter. NBC Securities Inc. now owns 3,991 shares of the bank's stock valued at $368,000 after acquiring an additional 3,988 shares during the period. Merit Financial Group LLC bought a new position in Popular during the first quarter valued at about $710,000. Perkins Coie Trust Co increased its stake in Popular by 6.7% during the first quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock valued at $296,000 after acquiring an additional 200 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in Popular by 10.3% during the first quarter. Wedge Capital Management L L P NC now owns 23,117 shares of the bank's stock valued at $2,135,000 after acquiring an additional 2,151 shares during the period. 87.27% of the stock is currently owned by institutional investors.
Popular Company Profile
(
Get Free Report)
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Popular, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Popular wasn't on the list.
While Popular currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
