Popular, Inc. (NASDAQ:BPOP) was upgraded by investment analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a report issued on Thursday. The brokerage presently has a $40.00 price target on the bank’s stock. Barclays PLC’s price objective would suggest a potential upside of 15.51% from the company’s current price.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and set a $51.00 price objective on shares of Popular in a research note on Thursday, June 29th. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 price objective on shares of Popular in a research note on Friday, July 28th. Finally, Morgan Stanley restated an “equal weight” rating and set a $43.00 target price (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $46.33.
Shares of Popular (NASDAQ:BPOP) traded down 3.16% on Thursday, hitting $34.63. The stock had a trading volume of 1,604,819 shares. The company’s 50 day moving average is $36.40 and its 200 day moving average is $39.23. Popular has a one year low of $32.05 and a one year high of $45.96. The stock has a market cap of $3.53 billion, a PE ratio of 15.64 and a beta of 1.25.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The business had revenue of $491.27 million during the quarter, compared to analysts’ expectations of $500.66 million. During the same period last year, the company posted $0.85 EPS. Equities research analysts predict that Popular will post $3.76 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Quadrant L P CA boosted its position in Popular by 31.4% during the third quarter. First Quadrant L P CA now owns 324,089 shares of the bank’s stock worth $11,648,000 after acquiring an additional 77,456 shares during the last quarter. Denali Advisors LLC boosted its position in Popular by 72.7% during the third quarter. Denali Advisors LLC now owns 48,700 shares of the bank’s stock worth $1,750,000 after acquiring an additional 20,500 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Popular by 30.2% during the third quarter. Meeder Asset Management Inc. now owns 42,582 shares of the bank’s stock worth $1,531,000 after acquiring an additional 9,881 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Popular by 170.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 61,707 shares of the bank’s stock worth $2,218,000 after acquiring an additional 38,885 shares during the last quarter. Finally, Stilwell Value LLC boosted its position in Popular by 4,071.0% during the second quarter. Stilwell Value LLC now owns 834,200 shares of the bank’s stock worth $834,000 after acquiring an additional 814,200 shares during the last quarter. Hedge funds and other institutional investors own 85.92% 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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