Popular (NASDAQ:BPOP) Lowered to Hold at BidaskClub

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Popular (NASDAQ:BPOP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Several other research firms have also issued reports on BPOP. ValuEngine raised shares of Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, January 3rd. BTIG Research reissued a “buy” rating and issued a $69.00 price target on shares of Popular in a research report on Tuesday, January 14th.

Shares of BPOP stock opened at $57.48 on Wednesday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 9.27 and a beta of 1.19. Popular has a 52 week low of $49.23 and a 52 week high of $61.46. The firm’s 50-day simple moving average is $59.16 and its two-hundred day simple moving average is $55.70.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.25. Popular had a net margin of 21.47% and a return on equity of 11.40%. During the same period last year, the company earned $1.33 EPS. As a group, analysts expect that Popular will post 6.63 earnings per share for the current year.

In other news, Director Maria Luisa Ferre sold 9,100 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.62, for a total value of $515,242.00. Following the sale, the director now owns 34,927 shares of the company’s stock, valued at $1,977,566.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Eduardo J. Negron sold 1,371 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.51, for a total transaction of $76,104.21. The disclosure for this sale can be found here. In the last three months, insiders sold 33,961 shares of company stock worth $1,890,377. Insiders own 1.33% of the company’s stock.

A number of large investors have recently modified their holdings of BPOP. Morgan Stanley grew its stake in Popular by 58.0% during the second quarter. Morgan Stanley now owns 388,455 shares of the bank’s stock valued at $21,070,000 after acquiring an additional 142,646 shares in the last quarter. Victory Capital Management Inc. grew its stake in Popular by 15.0% during the second quarter. Victory Capital Management Inc. now owns 79,349 shares of the bank’s stock valued at $4,304,000 after acquiring an additional 10,338 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Popular by 702.3% during the second quarter. Nuveen Asset Management LLC now owns 688,748 shares of the bank’s stock valued at $37,357,000 after acquiring an additional 602,904 shares in the last quarter. Schroder Investment Management Group purchased a new position in Popular during the second quarter valued at approximately $445,000. Finally, United Services Automobile Association grew its stake in Popular by 109.1% during the second quarter. United Services Automobile Association now owns 183,330 shares of the bank’s stock valued at $9,944,000 after acquiring an additional 95,653 shares in the last quarter. 84.13% of the stock is owned by institutional investors.

Popular Company Profile

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

See Also: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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