StockNews.com Downgrades Popular (NASDAQ:BPOP) to Hold

Popular (NASDAQ:BPOP - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts have also issued reports on BPOP. Royal Bank of Canada upped their target price on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods increased their price target on Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.14.

Popular Stock Performance

BPOP stock remained flat at $95.94 on Tuesday. The company had a trading volume of 593,281 shares, compared to its average volume of 487,823. Popular has a 12-month low of $78.23 and a 12-month high of $106.81. The firm's 50-day moving average price is $91.11 and its two-hundred day moving average price is $95.24. The company has a market capitalization of $6.65 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $760.45 million. As a group, equities analysts anticipate that Popular will post 10.06 EPS for the current year.

Insider Transactions at Popular

In related news, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares in the company, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares of the company's stock, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Institutional Trading of Popular

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after purchasing an additional 71,782 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after acquiring an additional 218 shares in the last quarter. KBC Group NV increased its position in shares of Popular by 1,719.6% during the fourth quarter. KBC Group NV now owns 37,775 shares of the bank's stock worth $3,553,000 after acquiring an additional 35,699 shares during the last quarter. MML Investors Services LLC acquired a new position in shares of Popular in the third quarter worth about $216,000. Finally, Franklin Resources Inc. boosted its holdings in Popular by 304.3% in the third quarter. Franklin Resources Inc. now owns 99,861 shares of the bank's stock valued at $10,042,000 after purchasing an additional 75,164 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

About Popular

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.