Popular Inc (NASDAQ:BPOP) has earned an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $62.75.
A number of research firms recently weighed in on BPOP. ValuEngine cut shares of Popular from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a research report on Saturday, June 29th. BTIG Research reaffirmed a “buy” rating and set a $66.00 price objective on shares of Popular in a research report on Thursday, July 25th. Finally, Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, July 26th.
Hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC raised its stake in Popular by 702.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 688,748 shares of the bank’s stock worth $37,357,000 after acquiring an additional 602,904 shares in the last quarter. Victory Capital Management Inc. raised its stake in Popular by 15.0% during the 2nd quarter. Victory Capital Management Inc. now owns 79,349 shares of the bank’s stock worth $4,304,000 after acquiring an additional 10,338 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Popular by 129.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 451,899 shares of the bank’s stock worth $24,511,000 after acquiring an additional 255,044 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in Popular during the 2nd quarter worth $306,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Popular by 292.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 208,485 shares of the bank’s stock worth $11,308,000 after acquiring an additional 155,367 shares in the last quarter. 90.51% of the stock is owned by institutional investors.
Shares of Popular stock traded down $0.04 during mid-day trading on Friday, hitting $52.10. The stock had a trading volume of 3,614 shares, compared to its average volume of 549,105. The firm’s 50-day simple moving average is $55.24. Popular has a 12-month low of $44.22 and a 12-month high of $58.99. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 10.89 and a beta of 1.15.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.12. The business had revenue of $614.60 million during the quarter, compared to analysts’ expectations of $620.22 million. Popular had a net margin of 20.86% and a return on equity of 11.48%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.73 EPS. As a group, equities analysts expect that Popular will post 6.73 EPS for the current year.
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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