Popular (NASDAQ:BPOP) Stock Dropped to Hold by Zacks Research

Popular (NASDAQ:BPOP – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Wells Fargo & Company lowered their price target on Popular from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Weiss Ratings reissued a “buy (a-)” rating on shares of Popular in a research note on Friday, July 31st. Keefe, Bruyette & Woods upped their price objective on Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Barclays upped their price objective on Popular from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $187.42.

View Our Latest Report on BPOP

Popular Price Performance

Popular stock opened at $156.29 on Thursday. The company has a market cap of $9.97 billion, a PE ratio of 10.56, a P/E/G ratio of 0.58 and a beta of 0.63. The company has a fifty day moving average price of $166.62 and a two-hundred day moving average price of $158.65. Popular has a 12 month low of $108.74 and a 12 month high of $179.24.

Popular (NASDAQ:BPOP – Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, beating the consensus estimate of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%. The company had revenue of $846.92 million during the quarter, compared to analyst estimates of $878.41 million. During the same period in the prior year, the company earned $3.09 earnings per share. Equities research analysts anticipate that Popular will post 15.70 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Lidio Soriano sold 3,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $174.50, for a total value of $523,500.00. Following the completion of the transaction, the executive vice president owned 107,320 shares in the company, valued at $18,727,340. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Luis E. Cestero sold 8,500 shares of Popular stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $176.36, for a total value of $1,499,060.00. Following the completion of the transaction, the executive vice president directly owned 16,013 shares in the company, valued at $2,824,052.68. This represents a 34.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 53,561 shares of company stock worth $9,392,259. Corporate insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Popular by 30.5% in the 1st quarter. Parallel Advisors LLC now owns 321 shares of the bank’s stock valued at $43,000 after acquiring an additional 75 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in Popular by 97.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 280 shares of the bank’s stock valued at $44,000 after purchasing an additional 138 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Popular by 86.7% in the third quarter. Farther Finance Advisors LLC now owns 1,049 shares of the bank’s stock valued at $163,000 after purchasing an additional 487 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Popular in the first quarter valued at $204,000. Finally, Burns J W & Co. Inc. NY acquired a new stake in shares of Popular in the first quarter worth $207,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

About Popular

(Get Free Report)

Popular, Inc (NASDAQ:BPOP) is a financial services company headquartered in San Juan, Puerto Rico. Founded in 1893, the company provides banking and related financial services primarily through Banco Popular de Puerto Rico, its principal subsidiary, and serves individuals, businesses and institutions.

Its products and services include consumer and commercial deposit accounts, personal and business loans, residential mortgages, credit cards, auto financing, investment and wealth-management services, insurance-related offerings and electronic banking solutions.

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Analyst Recommendations for Popular (NASDAQ:BPOP)

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