Popular (NASDAQ:BPOP) Upgraded by StockNews.com to “Buy” Rating

Popular (NASDAQ:BPOP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

BPOP has been the subject of several other research reports. UBS Group began coverage on shares of Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target for the company. Barclays lifted their target price on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Keefe, Bruyette & Woods raised their price target on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada raised their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Popular Stock Performance

BPOP opened at $82.50 on Friday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.75 and a beta of 0.62. The firm’s 50-day simple moving average is $96.78 and its 200-day simple moving average is $96.64. Popular has a twelve month low of $78.59 and a twelve month high of $106.81.

Popular (NASDAQ:BPOP) last announced 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 return on equity of 11.89% and a net margin of 14.15%. As a group, sell-side analysts anticipate that Popular will post 10.06 EPS for the current fiscal year.

Insider Buying and Selling at Popular

In related news, EVP Eduardo J. Negron sold 10,000 shares of Popular 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 transaction, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now directly 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. Corporate insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Popular

Several hedge funds and other institutional investors have recently bought and sold shares of BPOP. Proficio Capital Partners LLC bought a new position in shares of Popular in the 4th quarter worth about $27,000. Picton Mahoney Asset Management increased its stake in shares of 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 acquiring an additional 118 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after acquiring an additional 218 shares in the last quarter. Versant Capital Management Inc boosted its stake in Popular by 589.9% during the first quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock worth $76,000 after acquiring an additional 702 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Popular in the third quarter worth $81,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

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.