Popular (NASDAQ:BPOP) had its price target boosted by investment analysts at Morgan Stanley from $40.00 to $41.00 in a note issued to investors on Wednesday. The firm presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price target suggests a potential upside of 18.05% from the company’s previous close.
BPOP has been the topic of several other reports. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Barclays upgraded shares of 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. ValuEngine upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods upgraded shares of Popular from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. Finally, Compass Point upgraded shares of Popular from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Popular presently has an average rating of “Hold” and an average price target of $46.42.
Shares of Popular (BPOP) opened at $34.73 on Wednesday. The firm has a market cap of $3,583.17, a PE ratio of 12.19 and a beta of 1.31. Popular has a 52-week low of $32.04 and a 52-week high of $45.96.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). The firm had revenue of $478.50 million during the quarter, compared to the consensus estimate of $513.85 million. Popular had a net margin of 9.98% and a return on equity of 5.70%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. sell-side analysts expect that Popular will post 2.45 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in BPOP. Investec Asset Management LTD increased its stake in Popular by 270.1% during the 3rd quarter. Investec Asset Management LTD now owns 3,640,138 shares of the bank’s stock valued at $130,827,000 after buying an additional 2,656,548 shares during the period. Polaris Capital Management LLC increased its stake in Popular by 35.9% during the 2nd quarter. Polaris Capital Management LLC now owns 3,149,712 shares of the bank’s stock valued at $131,374,000 after buying an additional 831,871 shares during the period. Stilwell Value LLC increased its stake in Popular by 4,071.0% during the 2nd quarter. Stilwell Value LLC now owns 834,200 shares of the bank’s stock valued at $834,000 after buying an additional 814,200 shares during the period. BlackRock Inc. increased its stake in Popular by 12.7% during the 2nd quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock valued at $209,937,000 after buying an additional 567,642 shares during the period. Finally, Prudential Financial Inc. increased its stake in Popular by 63.9% during the 3rd quarter. Prudential Financial Inc. now owns 903,755 shares of the bank’s stock valued at $32,480,000 after buying an additional 352,420 shares during the period. 88.96% of the stock is currently owned by hedge funds and other institutional investors.
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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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