Popular (NASDAQ:BPOP) Downgraded by StockNews.com to Hold

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

Several other brokerages have also issued reports on BPOP. UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 target price on the stock. Barclays increased their price objective on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. 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 report on Wednesday, January 29th. Wells Fargo & Company increased their price target on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.00.

Popular Stock Down 0.4 %

NASDAQ:BPOP traded down $0.34 during trading hours on Thursday, hitting $93.20. 396,655 shares of the stock were exchanged, compared to its average volume of 437,703. The company’s 50 day moving average is $98.14 and its two-hundred day moving average is $96.99. The company has a market capitalization of $6.49 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. Popular has a twelve month low of $80.60 and a twelve month high of $106.81.

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

Insider Activity at Popular

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

Institutional Investors Weigh In On Popular

Several institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new position in Popular during the 4th quarter worth about $27,000. Picton Mahoney Asset Management raised its position in Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after buying an additional 118 shares during the last quarter. Brooklyn Investment Group bought a new stake in Popular in the 3rd quarter valued at approximately $47,000. Smartleaf Asset Management LLC boosted its position in Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after acquiring an additional 218 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Popular during the 3rd quarter worth approximately $81,000. 87.27% of the stock is owned by institutional investors.

About Popular

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.