Popular, Inc. (NASDAQ:BPOP)‘s stock had its “buy” rating reiterated by equities research analysts at Piper Jaffray Companies in a research note issued on Wednesday, November 1st. They currently have a $50.50 price objective on the bank’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 54.34% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on BPOP. Morgan Stanley restated an “equal weight” rating and set a $43.00 price objective (up from $42.00) on shares of Popular in a research note on Friday, July 7th. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, July 10th. ValuEngine lowered Popular from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Barclays PLC cut their price objective on Popular from $47.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Finally, BTIG Research upgraded Popular from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.75.
Popular (NASDAQ BPOP) opened at $32.72 on Wednesday. The firm has a market capitalization of $3,340.00, a P/E ratio of 11.64 and a beta of 1.33. Popular has a 12-month low of $32.04 and a 12-month high of $45.96.
Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, October 31st. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). Popular had a net margin of 9.98% and a return on equity of 5.70%. The business had revenue of $478.50 million for the quarter, compared to analysts’ expectations of $513.85 million. During the same quarter in the previous year, the firm earned $0.44 EPS. Popular’s revenue was up 11.3% compared to the same quarter last year. equities analysts anticipate that Popular will post 2.45 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of BPOP. Teachers Advisors LLC grew its stake in shares of Popular by 2.5% in the first quarter. Teachers Advisors LLC now owns 620,641 shares of the bank’s stock valued at $25,279,000 after buying an additional 14,866 shares in the last quarter. UBS Group AG boosted its holdings in Popular by 144.6% in the first quarter. UBS Group AG now owns 40,915 shares of the bank’s stock valued at $1,666,000 after purchasing an additional 24,188 shares during the period. Morgan Stanley boosted its holdings in Popular by 18.2% in the first quarter. Morgan Stanley now owns 567,202 shares of the bank’s stock valued at $23,102,000 after purchasing an additional 87,306 shares during the period. BlackRock Inc. boosted its holdings in Popular by 13,970.4% in the first quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock valued at $181,886,000 after purchasing an additional 4,433,912 shares during the period. Finally, Amalgamated Bank boosted its holdings in Popular by 3.4% in the first quarter. Amalgamated Bank now owns 14,713 shares of the bank’s stock valued at $599,000 after purchasing an additional 480 shares during the period. 85.57% of the stock is owned by institutional investors and hedge funds.
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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