Investors Buy Popular Inc. (BPOP) on Weakness
Investors bought shares of Popular Inc. (NASDAQ:BPOP) on weakness during trading on Thursday. $13.24 million flowed into the stock on the tick-up and $5.71 million flowed out of the stock on the tick-down, for a money net flow of $7.53 million into the stock. Of all stocks tracked, Popular had the 24th highest net in-flow for the day. Popular traded down ($0.02) for the day and closed at $36.72
BPOP has been the topic of several research reports. Compass Point reissued a “buy” rating and issued a $35.00 price target (up previously from $32.00) on shares of Popular in a research report on Thursday, April 28th. Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Friday, April 29th. Barclays PLC initiated coverage on shares of Popular in a research report on Thursday, June 23rd. They issued an “equal weight” rating and a $32.00 price target on the stock. Finally, BTIG Research reissued a “buy” rating and issued a $41.00 price target on shares of Popular in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $35.43.
The firm has a 50 day moving average price of $31.59 and a 200-day moving average price of $29.03. The stock has a market cap of $3.81 billion and a price-to-earnings ratio of 9.63.
Popular (NASDAQ:BPOP) last announced its quarterly 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 in the previous year, the company posted $5.79 EPS. On average, equities research analysts forecast that Popular Inc. will post $3.41 earnings per share for the current fiscal year.
In other news, VP Jorge J. Garcia sold 3,500 shares of the firm’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 sale, the vice president now owns 13,429 shares of the company’s stock, valued at approximately $421,670.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Juan Guerrero sold 3,962 shares of the firm’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 sale, the executive vice president now directly owns 49,344 shares in the company, valued at approximately $1,525,716.48. The disclosure for this sale can be found here.
Other hedge funds recently made changes to their positions in the company. Argent Capital Management LLC increased its stake in shares of Popular by 30.3% in the fourth quarter. Argent Capital Management LLC now owns 55,925 shares of the company’s stock worth $1,585,000 after buying an additional 13,000 shares during the last quarter. Airain ltd increased its stake in shares of 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. Marshall Wace LLP bought a new stake in shares of Popular during the fourth quarter worth about $2,408,000. Finally, Dimensional Fund Advisors LP increased 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 during 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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