Zacks Investment Research upgraded shares of Popular (NASDAQ:BPOP) from a hold rating to a buy rating in a report released on Wednesday morning. The brokerage currently has $47.00 price objective on the bank’s stock.
According to Zacks, “Popular, Inc. is a diversified, publicly owned bank holding company. The corporation’s principal subsidiary, Banco Popular de Puerto Rico, has one of the largest retail franchise in Puerto Rico, operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands, the British Virgin Islands, and New York. “
BPOP has been the topic of a number of other research reports. Compass Point raised Popular from a neutral rating to a buy rating in a research report on Friday, November 3rd. Barclays raised Popular from an equal weight rating to an overweight rating and set a $40.00 price objective on the stock in a research report on Thursday, October 26th. Piper Jaffray Companies reaffirmed a buy rating and set a $50.50 price objective on shares of Popular in a research report on Wednesday, November 1st. BTIG Research reaffirmed a buy rating on shares of Popular in a research report on Tuesday, January 23rd. Finally, ValuEngine raised Popular from a hold rating to a buy rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $48.31.
Shares of Popular (NASDAQ BPOP) opened at $42.75 on Wednesday. Popular has a 12-month low of $32.04 and a 12-month high of $46.83. The firm has a market capitalization of $4,328.75, a price-to-earnings ratio of 15.88 and a beta of 1.19.
Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.22. Popular had a return on equity of 5.25% and a net margin of 4.89%. The business had revenue of $473.35 million for the quarter. analysts predict that Popular will post 3.89 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. acquired a new position in shares of Popular during the third quarter worth $9,497,000. Sei Investments Co. grew its stake in shares of Popular by 126.4% during the third quarter. Sei Investments Co. now owns 45,544 shares of the bank’s stock worth $1,636,000 after purchasing an additional 25,424 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Popular by 41.1% during the third quarter. Wells Fargo & Company MN now owns 89,744 shares of the bank’s stock worth $3,225,000 after purchasing an additional 26,163 shares in the last quarter. Stevens Capital Management LP grew its stake in shares of Popular by 30.9% during the third quarter. Stevens Capital Management LP now owns 63,503 shares of the bank’s stock worth $2,282,000 after purchasing an additional 14,975 shares in the last quarter. Finally, Cipher Capital LP grew its stake in shares of Popular by 14.8% during the third quarter. Cipher Capital LP now owns 103,069 shares of the bank’s stock worth $3,704,000 after purchasing an additional 13,308 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.
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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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