Investors Buy Shares of Popular Inc. (BPOP) on Weakness
Traders 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 equities 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
Several analysts have weighed in on the company. Zacks Investment Research raised Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Barclays PLC boosted their price objective on Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Compass Point reissued a “buy” rating and issued a $35.00 price objective (up previously from $32.00) on shares of Popular in a research note on Thursday, April 28th. Finally, BTIG Research reissued a “buy” rating and issued a $41.00 price objective on shares of Popular in a research note on Tuesday, July 12th. One equities research 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 currently has an average rating of “Hold” and an average target price of $35.43.
The company has a 50 day moving average price of $31.78 and a 200-day moving average price of $29.13. The stock has a market cap of $3.83 billion and a P/E ratio of 9.69.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. During the same period in the prior year, the business earned $5.79 earnings per share. On average, analysts forecast that Popular Inc. will post $3.41 earnings per share for the current fiscal year.
In other news, EVP Juan Guerrero sold 3,962 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $30.92, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jorge J. Garcia sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $31.40, for a total value of $109,900.00. Following the completion of the sale, the vice president now owns 13,429 shares in the company, valued at $421,670.60. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in Popular during the fourth quarter valued at $2,408,000. Dimensional Fund Advisors LP raised its stake in Popular by 50.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,362,880 shares of the company’s stock valued at $66,965,000 after buying an additional 797,142 shares in the last quarter. Airain ltd raised its stake in Popular by 3.8% in the fourth quarter. Airain ltd now owns 65,326 shares of the company’s stock valued at $1,851,000 after buying an additional 2,365 shares in the last quarter. Finally, Argent Capital Management LLC raised its stake in Popular by 30.3% in the fourth quarter. Argent Capital Management LLC now owns 55,925 shares of the company’s stock valued at $1,585,000 after buying an additional 13,000 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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