Popular (NASDAQ:BPOP) Raised to Buy at StockNews.com

Popular (NASDAQ:BPOPGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Separately, UBS Group raised their target price on shares of Popular from $129.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, March 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $112.00.

Popular stock opened at $74.83 on Friday. Popular has a 12-month low of $68.31 and a 12-month high of $99.49. The stock has a market capitalization of $5.72 billion, a P/E ratio of 6.79 and a beta of 0.96. The firm’s 50-day moving average is $79.92 and its two-hundred day moving average is $83.71.

Popular (NASDAQ:BPOPGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The bank reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.37. Popular had a net margin of 31.84% and a return on equity of 14.96%. The company had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $647.16 million. During the same period last year, the company earned $3.12 EPS. On average, equities research analysts predict that Popular will post 10.36 earnings per share for the current fiscal year.

In related news, Director C Kim Goodwin sold 8,154 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $80.05, for a total value of $652,727.70. Following the transaction, the director now owns 39,275 shares in the company, valued at $3,143,963.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Beatriz Castellvi sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $80.08, for a total transaction of $160,160.00. Following the completion of the transaction, the executive vice president now owns 19,372 shares in the company, valued at approximately $1,551,309.76. The disclosure for this sale can be found here. 1.88% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BPOP. HighTower Advisors LLC raised its holdings in Popular by 8.5% in the third quarter. HighTower Advisors LLC now owns 4,039 shares of the bank’s stock valued at $311,000 after buying an additional 318 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Popular during the third quarter valued at approximately $142,000. MML Investors Services LLC purchased a new stake in shares of Popular during the third quarter valued at approximately $229,000. Maverick Capital Ltd. purchased a new stake in shares of Popular during the third quarter valued at approximately $553,000. Finally, LPL Financial LLC raised its stake in shares of Popular by 19.9% during the third quarter. LPL Financial LLC now owns 6,584 shares of the bank’s stock valued at $511,000 after purchasing an additional 1,095 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Popular Company Profile (Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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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