Popular (NASDAQ:BPOP) Rating Lowered to “Hold” at StockNews.com

Popular (NASDAQ:BPOP) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada upped their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Barclays increased their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company raised their price objective on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, UBS Group began coverage on Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Popular Stock Down 1.8 %

Shares of NASDAQ:BPOP opened at $91.52 on Thursday. The business’s 50 day moving average is $97.98 and its 200 day moving average is $96.95. Popular has a 12-month low of $80.60 and a 12-month high of $106.81. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, equities research analysts expect that Popular will post 10.06 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares in the company, valued at $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Popular

A number of hedge funds have recently made changes to their positions in BPOP. Picton Mahoney Asset Management lifted its holdings in Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after buying an additional 118 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Popular during the 3rd quarter valued at $47,000. Smartleaf Asset Management LLC grew its position in shares of Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after purchasing an additional 218 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Popular during the third quarter worth approximately $81,000. Finally, R Squared Ltd acquired a new stake in Popular during the 4th quarter worth approximately $166,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the 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.