Popular (NASDAQ:BPOP - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Tuesday.
A number of other research analysts also recently weighed in on BPOP. Royal Bank of Canada increased their price target 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 cut their target price for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods upped their price target on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Popular currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.14.
Read Our Latest Stock Analysis on Popular
Popular Price Performance
Popular stock remained flat at $95.94 during mid-day trading on Tuesday. The company had a trading volume of 593,281 shares, compared to its average volume of 485,859. The firm has a market cap of $6.65 billion, a PE ratio of 11.21, a PEG ratio of 0.75 and a beta of 0.62. Popular has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The firm's 50 day moving average is $91.32 and its 200-day moving average is $95.27.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, topping the consensus estimate of $2.26 by $0.30. The company had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. Research analysts forecast that Popular will post 10.06 earnings per share for the current year.
Insider Buying and Selling
In other Popular 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 $4,017,666.90. This trade represents a 19.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were 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 owns 32,866 shares in the company, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. 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
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new stake in Popular during the fourth quarter worth about $27,000. Picton Mahoney Asset Management increased its position in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after purchasing an additional 218 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Popular by 589.9% in the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after buying an additional 702 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Popular in the 3rd quarter valued at approximately $81,000. 87.27% of the stock is owned by institutional investors.
About Popular
(
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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