Popular (NASDAQ:BPOP - Get Free Report)'s stock had its "buy (b)" rating reiterated by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.
Several other brokerages have also recently commented on BPOP. Barclays reiterated an "overweight" rating on shares of Popular in a research report on Wednesday. Zacks Research cut shares of Popular from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $130.13.
Check Out Our Latest Report on BPOP
Popular Price Performance
Shares of BPOP traded up $0.51 during mid-day trading on Wednesday, hitting $125.82. The company's stock had a trading volume of 283,576 shares, compared to its average volume of 522,252. The firm has a 50-day moving average price of $122.66 and a 200 day moving average price of $108.87. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.65 and a beta of 0.68. Popular has a fifty-two week low of $78.23 and a fifty-two week high of $129.32.
Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The firm had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. During the same period in the previous year, the company earned $2.46 earnings per share. As a group, equities analysts anticipate that Popular will post 10.06 EPS for the current fiscal year.
Insider Activity at Popular
In related news, EVP Gilberto Monzon sold 18,001 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were 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. This represents a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.09% of the company's stock.
Institutional Trading of Popular
Several hedge funds have recently bought and sold shares of BPOP. Norges Bank bought a new stake in shares of Popular during the 2nd quarter worth $93,578,000. AQR Capital Management LLC raised its stake in shares of Popular by 52.8% during the 1st quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank's stock worth $129,722,000 after purchasing an additional 495,325 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Popular by 9,769.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 268,448 shares of the bank's stock worth $29,586,000 after purchasing an additional 265,728 shares during the period. SG Americas Securities LLC raised its stake in shares of Popular by 363.4% during the 2nd quarter. SG Americas Securities LLC now owns 228,028 shares of the bank's stock worth $25,131,000 after purchasing an additional 178,820 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Popular by 135.7% during the 2nd quarter. Mackenzie Financial Corp now owns 258,265 shares of the bank's stock worth $28,463,000 after purchasing an additional 148,682 shares during the period. Institutional investors and hedge funds own 87.27% of the company's stock.
About Popular
(
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.
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