Popular (NASDAQ:BPOP) Lifted to Hold at BidaskClub

Popular (NASDAQ:BPOP) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday, June 29th, BidAskClub reports.

Several other research firms have also recently issued reports on BPOP. BTIG Research increased their price target on Popular to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $59.43.

BPOP traded down $0.01 during trading on Friday, reaching $54.92. 519,816 shares of the company were exchanged, compared to its average volume of 447,126. The firm has a market capitalization of $5.31 billion, a PE ratio of 11.51 and a beta of 1.17. The business’s 50 day moving average price is $54.01. Popular has a 52 week low of $44.22 and a 52 week high of $58.99.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.24. The firm had revenue of $607.39 million during the quarter, compared to the consensus estimate of $603.70 million. Popular had a return on equity of 10.58% and a net margin of 24.69%. During the same period in the prior year, the business earned $0.89 EPS. As a group, analysts forecast that Popular will post 6.59 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in BPOP. Norges Bank purchased a new stake in shares of Popular during the fourth quarter valued at $64,758,000. APG Asset Management N.V. lifted its stake in Popular by 5,001.3% in the 4th quarter. APG Asset Management N.V. now owns 790,700 shares of the bank’s stock worth $32,661,000 after acquiring an additional 775,200 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Popular by 108.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,076,845 shares of the bank’s stock worth $50,847,000 after acquiring an additional 559,566 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Popular by 4,433.8% in the 4th quarter. Principal Financial Group Inc. now owns 487,477 shares of the bank’s stock worth $23,018,000 after acquiring an additional 476,725 shares in the last quarter. Finally, Vanguard Group Inc lifted its stake in Popular by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 9,585,130 shares of the bank’s stock worth $491,239,000 after acquiring an additional 412,087 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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Analyst Recommendations for Popular (NASDAQ:BPOP)

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