Popular (BPOP) Reaches New 12-Month High at $54.04

Shares of Popular Inc (NASDAQ:BPOP) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $54.04 and last traded at $53.86, with a volume of 310184 shares traded. The stock had previously closed at $53.59.

Several research firms recently issued reports on BPOP. BidaskClub upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research report on Friday, October 26th. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 price target on shares of Popular in a research report on Wednesday, July 25th. Barclays increased their price target on shares of Popular from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 24th. Finally, Citigroup increased their price target on shares of Popular from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $54.88.

The stock has a market capitalization of $5.41 billion, a PE ratio of 20.16 and a beta of 1.07.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.20. The business had revenue of $602.49 million during the quarter, compared to the consensus estimate of $586.10 million. Popular had a net margin of 16.32% and a return on equity of 8.17%. During the same quarter in the prior year, the firm earned $0.19 EPS. As a group, equities research analysts expect that Popular Inc will post 4.89 earnings per share for the current year.

In related news, Director Maria Luisa Ferre sold 22,797 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $50.12, for a total value of $1,142,585.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ignacio Alvarez sold 6,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $50.32, for a total transaction of $301,920.00. The disclosure for this sale can be found here. 1.38% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new position in Popular in the 2nd quarter valued at approximately $118,000. Sun Life Financial INC bought a new position in shares of Popular during the second quarter valued at $206,000. Balasa Dinverno & Foltz LLC bought a new position in shares of Popular during the third quarter valued at $212,000. Allianz Asset Management GmbH bought a new position in shares of Popular during the first quarter valued at $240,000. Finally, Oakbrook Investments LLC bought a new position in shares of Popular during the third quarter valued at $241,000. 87.38% of the stock is owned by institutional investors and hedge funds.

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Popular Company Profile (NASDAQ:BPOP)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. 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, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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