Popular (NASDAQ:BPOP - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.
Other research analysts have also recently issued research reports about the stock. UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price target for the company. Barclays boosted their price target on Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Wells Fargo & Company upgraded shares of Popular from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Royal Bank of Canada boosted their price target on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $111.57.
Get Our Latest Analysis on BPOP
Popular Trading Up 2.1 %
BPOP stock traded up $1.75 during trading on Friday, reaching $85.65. 73,558 shares of the stock were exchanged, compared to its average volume of 474,082. Popular has a twelve month low of $78.23 and a twelve month high of $106.81. The company has a market capitalization of $5.94 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The stock has a 50 day simple moving average of $92.94 and a 200-day simple moving average of $95.55.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Equities analysts predict that Popular will post 10.06 EPS for the current year.
Insider Activity
In related news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company's stock, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. The trade was a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Popular
Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of 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 during the period. Smartleaf Asset Management LLC raised its stake in Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares during the period. KBC Group NV lifted its position in shares of Popular by 1,719.6% in the fourth quarter. KBC Group NV now owns 37,775 shares of the bank's stock valued at $3,553,000 after buying an additional 35,699 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Popular by 4.3% in the third quarter. Stifel Financial Corp now owns 14,167 shares of the bank's stock valued at $1,421,000 after buying an additional 583 shares during the last quarter. Finally, MML Investors Services LLC bought a new position in shares of Popular during the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 87.27% of the company's stock.
Popular Company Profile
(
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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