Popular (NASDAQ:BPOP) Lifted to Buy at StockNews.com

Popular (NASDAQ:BPOPGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Thursday, March 31st. UBS Group upped their price objective on shares of Popular from $129.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, March 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $108.20.

NASDAQ:BPOP traded down $0.87 during trading hours on Friday, reaching $80.36. The company’s stock had a trading volume of 387,373 shares, compared to its average volume of 677,935. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 7.29 and a beta of 0.96. Popular has a one year low of $68.31 and a one year high of $99.49. The business’s 50-day moving average is $80.21 and its 200-day moving average is $83.94.

Popular (NASDAQ:BPOPGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The bank reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.37. The firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $647.16 million. Popular had a net margin of 31.84% and a return on equity of 15.80%. During the same period in the prior year, the company posted $3.12 earnings per share. Sell-side analysts forecast that Popular will post 10.36 EPS for the current fiscal year.

In related news, Director C Kim Goodwin sold 8,154 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $80.05, for a total value of $652,727.70. Following the completion of the sale, the director now owns 39,275 shares in the company, valued at $3,143,963.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Beatriz Castellvi sold 2,000 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $80.08, for a total transaction of $160,160.00. Following the completion of the sale, the executive vice president now owns 19,372 shares of the company’s stock, valued at approximately $1,551,309.76. The disclosure for this sale can be found here. 1.88% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. bought a new stake in shares of Popular in the first quarter valued at about $33,000. Denali Advisors LLC raised its position in Popular by 485.0% in the first quarter. Denali Advisors LLC now owns 468 shares of the bank’s stock worth $38,000 after purchasing an additional 388 shares in the last quarter. Covestor Ltd acquired a new position in Popular in the fourth quarter worth about $53,000. Lazard Asset Management LLC raised its position in Popular by 97.3% in the fourth quarter. Lazard Asset Management LLC now owns 738 shares of the bank’s stock worth $60,000 after purchasing an additional 364 shares in the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in Popular in the third quarter worth about $59,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

About Popular (Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.

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