Popular (BPOP) Rating Lowered to Hold at Zacks Investment Research

Popular (BPOP) Rating Lowered to Hold at Zacks Investment Research

Popular (NASDAQ:BPOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

Several other brokerages have also issued reports on BPOP. Sandler O’Neill set a $48.00 target price on shares of Popular and gave the company a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods set a $49.00 target price on shares of Popular and gave the company a “buy” rating in a research report on Thursday. Barclays lifted their target price on shares of Popular from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Citigroup lifted their target price on shares of Popular from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley lifted their target price on shares of Popular from $41.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Popular has a consensus rating of “Buy” and an average target price of $47.56.

Shares of Popular (NASDAQ BPOP) opened at $42.58 on Friday. Popular has a 52-week low of $32.04 and a 52-week high of $46.83. The stock has a market cap of $4,391.01, a PE ratio of 42.16 and a beta of 1.19.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.22. Popular had a net margin of 4.89% and a return on equity of 5.25%. The business had revenue of $473.35 million for the quarter. research analysts expect that Popular will post 3.74 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Popular by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock worth $124,000 after acquiring an additional 200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Popular by 49.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,797 shares of the bank’s stock worth $206,000 after acquiring an additional 1,910 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Popular during the fourth quarter worth about $209,000. Invictus RG acquired a new position in Popular during the fourth quarter worth about $228,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Popular by 229.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock worth $233,000 after acquiring an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Popular (BPOP) Rating Lowered to Hold at Zacks Investment Research” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/18/popular-bpop-rating-lowered-to-hold-at-zacks-investment-research.html.

About Popular

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.

Analyst Recommendations for Popular (NASDAQ:BPOP)

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Popular (NASDAQ:BPOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

A number of other brokerages also recently commented on BPOP. Keefe, Bruyette & Woods set a $49.00 target price on shares of Popular and gave the stock a “buy” rating in a research note on Thursday. Barclays lifted their target price on shares of Popular from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Citigroup boosted their price target on shares of Popular from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. ValuEngine raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Morgan Stanley boosted their price target on shares of Popular from $40.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.56.

Popular (BPOP) opened at $42.58 on Friday. Popular has a 52 week low of $32.04 and a 52 week high of $46.83. The company has a market cap of $4,391.01, a PE ratio of 42.16 and a beta of 1.19.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.22. Popular had a net margin of 4.89% and a return on equity of 5.25%. The company had revenue of $473.35 million for the quarter. analysts predict that Popular will post 3.74 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Popular by 58.5% during the 2nd quarter. Royal Bank of Canada now owns 90,040 shares of the bank’s stock worth $3,756,000 after buying an additional 33,229 shares during the period. Sei Investments Co. increased its stake in Popular by 126.4% during the 3rd quarter. Sei Investments Co. now owns 45,544 shares of the bank’s stock worth $1,636,000 after buying an additional 25,424 shares during the period. American Century Companies Inc. purchased a new stake in Popular during the 3rd quarter worth approximately $9,497,000. Cipher Capital LP increased its stake in Popular by 14.8% during the 3rd quarter. Cipher Capital LP now owns 103,069 shares of the bank’s stock worth $3,704,000 after buying an additional 13,308 shares during the period. Finally, Stevens Capital Management LP increased its stake in Popular by 30.9% during the 3rd quarter. Stevens Capital Management LP now owns 63,503 shares of the bank’s stock worth $2,282,000 after buying an additional 14,975 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This article was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/18/popular-bpop-rating-lowered-to-hold-at-zacks-investment-research.html.

About Popular

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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Analyst Recommendations for Popular (NASDAQ:BPOP)

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