Popular (NASDAQ:BPOP) Stock Rating Lowered by StockNews.com

Popular (NASDAQ:BPOP - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.

BPOP has been the topic of several other reports. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays reissued an "overweight" rating and set a $125.00 price target (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Royal Bank of Canada lifted their price objective on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Finally, Hovde Group decreased their price target on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Popular presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.14.

Popular Stock Performance

Popular stock traded down $0.02 during midday trading on Friday, hitting $99.03. 486,964 shares of the company's stock were exchanged, compared to its average volume of 493,385. The firm's 50 day simple moving average is $90.52 and its 200 day simple moving average is $95.13. Popular has a 12-month low of $78.23 and a 12-month high of $106.81. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm had revenue of $755.46 million for the quarter, compared to analysts' expectations of $760.45 million. During the same quarter in the previous year, the firm posted $1.43 EPS. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that Popular will post 10.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Popular

Several hedge funds have recently bought and sold shares of BPOP. Picton Mahoney Asset Management raised its stake in Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 118 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Popular in the third quarter valued at $81,000. Versant Capital Management Inc grew its holdings in Popular by 589.9% in the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after buying an additional 702 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Popular during the 4th quarter worth about $166,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Company Profile

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.