Piper Jaffray Companies reissued their buy rating on shares of Popular, Inc. (NASDAQ:BPOP) in a report released on Wednesday morning. Piper Jaffray Companies currently has a $50.50 price objective on the bank’s stock.

Several other research analysts also recently weighed in on the stock. BTIG Research upgraded shares of Popular from a neutral rating to a buy rating in a research note on Tuesday. Barclays PLC upgraded shares of Popular from an equal weight rating to an overweight rating and set a $40.00 target price for the company in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of Popular from a buy rating to a sell rating in a research note on Tuesday, October 3rd. ValuEngine upgraded shares of Popular from a hold rating to a buy rating in a research note on Tuesday, October 3rd. Finally, Morgan Stanley restated an equal weight rating and issued a $43.00 target price (up from $42.00) on shares of Popular in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Popular presently has a consensus rating of Hold and a consensus target price of $46.75.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.76). The firm had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $513.85 million. Popular had a net margin of 9.98% and a return on equity of 5.72%. Popular’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share.

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A number of hedge funds and other institutional investors have recently bought and sold shares of BPOP. Teachers Advisors LLC boosted its stake in Popular by 2.5% during the 1st quarter. Teachers Advisors LLC now owns 620,641 shares of the bank’s stock valued at $25,279,000 after acquiring an additional 14,866 shares during the last quarter. UBS Group AG boosted its stake in Popular by 144.6% during the 1st quarter. UBS Group AG now owns 40,915 shares of the bank’s stock valued at $1,666,000 after acquiring an additional 24,188 shares during the last quarter. Morgan Stanley boosted its stake in Popular by 18.2% during the 1st quarter. Morgan Stanley now owns 567,202 shares of the bank’s stock valued at $23,102,000 after acquiring an additional 87,306 shares during the last quarter. BlackRock Inc. boosted its stake in Popular by 13,970.4% during the 1st quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock valued at $181,886,000 after acquiring an additional 4,433,912 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Popular by 3.4% during the 1st quarter. Amalgamated Bank now owns 14,713 shares of the bank’s stock valued at $599,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 85.56% of the company’s stock.

Popular Company Profile

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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