Popular (NASDAQ:BPOP) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday, BidAskClub reports.
A number of other analysts also recently commented on BPOP. Zacks Investment Research downgraded Popular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. BTIG Research boosted their target price on Popular to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Popular has a consensus rating of “Buy” and a consensus price target of $59.71.
BPOP opened at $53.42 on Wednesday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 11.20 and a beta of 1.22. Popular has a one year low of $44.22 and a one year high of $58.99.
Popular (NASDAQ:BPOP) last posted its earnings results 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 company had revenue of $607.39 million for 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 previous year, the business earned $0.89 earnings per share. As a group, equities analysts predict that Popular will post 6.59 EPS for the current year.
Several large investors have recently modified their holdings of BPOP. Norges Bank purchased a new stake in shares of Popular in the fourth quarter valued at $64,758,000. APG Asset Management N.V. lifted its position in shares of Popular by 5,001.3% in the fourth quarter. APG Asset Management N.V. now owns 790,700 shares of the bank’s stock valued at $32,661,000 after acquiring an additional 775,200 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Popular by 108.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,076,845 shares of the bank’s stock valued at $50,847,000 after acquiring an additional 559,566 shares in the last quarter. Man Group plc lifted its position in shares of Popular by 107.5% in the first quarter. Man Group plc now owns 1,050,168 shares of the bank’s stock valued at $54,745,000 after acquiring an additional 543,948 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Popular by 4,433.8% in the fourth quarter. Principal Financial Group Inc. now owns 487,477 shares of the bank’s stock valued at $23,018,000 after acquiring an additional 476,725 shares in the last quarter. Institutional investors and hedge funds own 89.49% of the company’s stock.
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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