Popular Inc. (BPOP) Sets New 52-Week High at $34.21
Popular Inc. (NASDAQ:BPOP) shares hit a new 52-week high on Wednesday . The company traded as high as $34.21 and last traded at $34.18, with a volume of 561,905 shares traded. The stock had previously closed at $33.90.
A number of brokerages have recently weighed in on BPOP. Barclays PLC raised their price objective on shares of Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Compass Point restated a “buy” rating and set a $35.00 target price (up previously from $32.00) on shares of Popular in a research report on Thursday, April 28th. BTIG Research restated a “buy” rating and set a $41.00 target price on shares of Popular in a research report on Tuesday, July 12th. Finally, Piper Jaffray Cos. started coverage on shares of Popular in a research report on Friday, April 8th. They set an “overweight” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $36.13.
The stock has a 50 day moving average of $30.24 and a 200-day moving average of $28.50. The stock has a market cap of $3.54 billion and a PE ratio of 8.95.
Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.04. During the same quarter last year, the business posted $5.79 EPS. On average, analysts expect that Popular Inc. will post $3.41 earnings per share for the current fiscal year.
In other Popular news, 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 transaction, the vice president now owns 13,429 shares in the company, valued at approximately $421,670.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Juan Guerrero sold 3,962 shares of the company’s stock in a transaction that occurred on 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 owns 49,344 shares in the company, valued at approximately $1,525,716.48. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in Popular by 2.4% in the fourth quarter. Rhumbline Advisers now owns 72,073 shares of the company’s stock valued at $2,043,000 after buying an additional 1,690 shares in the last quarter. 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 valued at $1,851,000 after buying an additional 2,365 shares in the last quarter. Marshall Wace LLP bought a new position in Popular during the fourth quarter valued at $2,408,000. Diamond Hill Capital Management Inc. raised its position in Popular by 2.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,873,665 shares of the company’s stock valued at $194,800,000 after buying an additional 140,308 shares in the last quarter. Finally, Eagle Asset Management raised its position in Popular by 98.8% in the third quarter. Eagle Asset Management now owns 876,416 shares of the company’s stock valued at $26,494,000 after buying an additional 435,529 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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