Popular, Inc. (BPOP) Upgraded to “Buy” by BTIG Research
A number of other analysts also recently weighed in on BPOP. ValuEngine downgraded shares of Popular from a buy rating to a hold rating in a research report on Wednesday, September 27th. Barclays PLC upgraded shares of Popular from an equal weight rating to an overweight rating and set a $40.00 price target on the stock in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Popular from a buy rating to a sell rating in a research note on Tuesday, October 3rd. Morgan Stanley reiterated an equal weight rating and issued a $43.00 price target (up previously from $42.00) on shares of Popular in a research note on Friday, July 7th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $53.00 price target on shares of Popular in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Popular has a consensus rating of Hold and an average price target of $46.75.
Shares of Popular (BPOP) traded up $0.05 during midday trading on Tuesday, reaching $34.15. 1,590,000 shares of the company’s stock traded hands, compared to its average volume of 1,730,000. The firm has a market cap of $3,480.00, a PE ratio of 11.84 and a beta of 1.33. Popular has a 1 year low of $32.04 and a 1 year high of $45.96.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). The business had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $513.85 million. Popular had a return on equity of 5.72% and a net margin of 9.98%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. equities research analysts expect that Popular will post 3.36 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its stake in Popular by 0.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the bank’s stock valued at $731,000 after acquiring an additional 75 shares during the period. Teacher Retirement System of Texas lifted its stake in Popular by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock valued at $347,000 after acquiring an additional 128 shares during the period. M&T Bank Corp lifted its stake in shares of Popular by 2.8% in the 2nd quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock worth $241,000 after purchasing an additional 159 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Popular by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock worth $124,000 after purchasing an additional 200 shares during the period. Finally, Aperio Group LLC lifted its stake in shares of Popular by 0.4% in the 2nd quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock worth $4,316,000 after purchasing an additional 380 shares during the period. Institutional investors and hedge funds 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.
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