Popular Inc. (BPOP) Hits New 1-Year High at $34.21
Popular Inc. (NASDAQ:BPOP) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $34.21 and last traded at $34.18, with a volume of 561,905 shares changing hands. The stock had previously closed at $33.90.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Popular from a “sell” rating to a “hold” rating in a report on Wednesday. Barclays PLC increased their target price on shares of Popular from $32.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. BTIG Research reaffirmed a “buy” rating and issued a $41.00 target price on shares of Popular in a report on Tuesday, July 12th. Compass Point reaffirmed a “buy” rating and issued a $35.00 target price (up from $32.00) on shares of Popular in a report on Thursday, April 28th. Finally, Piper Jaffray Cos. assumed coverage on shares of Popular in a report on Friday, April 8th. They issued an “overweight” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.43.
The stock has a 50 day moving average price of $30.56 and a 200 day moving average price of $28.58. The stock has a market cap of $3.63 billion and a PE ratio of 9.17.
Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. During the same quarter last year, the business earned $5.79 EPS. Equities research analysts forecast that Popular Inc. will post $3.43 EPS for the current year.
In other Popular news, EVP Juan Guerrero sold 3,962 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $30.92, for a total transaction of $122,505.04. Following the completion of the transaction, the executive vice president now directly owns 49,344 shares of the company’s stock, valued at approximately $1,525,716.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jorge J. Garcia sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $31.40, for a total transaction of $109,900.00. Following the transaction, the vice president now directly owns 13,429 shares of the company’s stock, valued at $421,670.60. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Airain ltd raised its position in Popular by 3.8% in the fourth quarter. Airain ltd now owns 65,326 shares of the company’s stock worth $1,851,000 after buying an additional 2,365 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Popular by 2.4% in the fourth quarter. Rhumbline Advisers now owns 72,073 shares of the company’s stock worth $2,043,000 after buying an additional 1,690 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Popular during the fourth quarter worth $2,408,000. Eagle Asset Management raised its stake in shares of Popular by 98.8% in the third quarter. Eagle Asset Management now owns 876,416 shares of the company’s stock worth $26,494,000 after buying an additional 435,529 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Popular by 50.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,362,880 shares of the company’s stock worth $66,965,000 after buying an additional 797,142 shares in the last quarter.
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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