Popular (NASDAQ:BPOP) Rating Increased to B- at TheStreet

Popular (NASDAQ:BPOP) was upgraded by investment analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.

Several other research analysts have also recently issued reports on BPOP. Piper Sandler increased their price objective on Popular from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. ValuEngine upgraded Popular from a “sell” rating to a “hold” rating in a research report on Monday, March 30th. Citigroup increased their price objective on Popular from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. BTIG Research reissued a “buy” rating and issued a $54.00 target price on shares of Popular in a report on Thursday, April 30th. Finally, Zacks Investment Research raised Popular from a “sell” rating to a “hold” rating in a report on Friday, May 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $51.25.

Popular stock opened at $36.77 on Wednesday. Popular has a 12 month low of $23.69 and a 12 month high of $61.46. The business has a 50 day simple moving average of $38.42 and a 200-day simple moving average of $45.86. The stock has a market capitalization of $3.09 billion, a PE ratio of 6.63 and a beta of 1.27.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, April 30th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($1.00). The business had revenue of $599.74 million during the quarter, compared to analysts’ expectations of $604.57 million. Popular had a return on equity of 9.23% and a net margin of 18.98%. During the same quarter in the previous year, the company posted $1.69 EPS. Sell-side analysts expect that Popular will post 3.85 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in Popular by 6.2% in the 1st quarter. Royal Bank of Canada now owns 466,451 shares of the bank’s stock worth $16,325,000 after purchasing an additional 27,036 shares during the period. Guggenheim Capital LLC raised its position in Popular by 4.9% in the first quarter. Guggenheim Capital LLC now owns 11,718 shares of the bank’s stock worth $411,000 after acquiring an additional 543 shares in the last quarter. State of Tennessee Treasury Department raised its position in Popular by 8.6% in the first quarter. State of Tennessee Treasury Department now owns 13,158 shares of the bank’s stock worth $461,000 after acquiring an additional 1,045 shares in the last quarter. X Square Capital LLC raised its position in Popular by 127.2% in the first quarter. X Square Capital LLC now owns 153,781 shares of the bank’s stock worth $5,382,000 after acquiring an additional 86,090 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new position in Popular in the first quarter worth $248,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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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