Popular Inc. (BPOP) Hits New 52-Week High at $37.09
Popular Inc. (NASDAQ:BPOP) reached a new 52-week high during trading on Tuesday . The company traded as high as $37.09 and last traded at $36.98, with a volume of 413,969 shares. The stock had previously closed at $36.93.
A number of equities research analysts have recently commented on BPOP shares. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Friday, April 29th. Compass Point reissued a “buy” rating and issued a $35.00 price objective (up previously from $32.00) on shares of Popular in a report on Thursday, April 28th. BTIG Research reissued a “buy” rating and issued a $41.00 price objective on shares of Popular in a report on Tuesday, July 12th. Finally, Barclays PLC lifted their price objective on Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. 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 presently has an average rating of “Hold” and an average price target of $35.43.
The firm’s 50-day moving average price is $31.39 and its 200-day moving average price is $28.97. The company has a market capitalization of $3.81 billion and a price-to-earnings ratio of 9.63.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. During the same period in the previous year, the firm earned $5.79 earnings per share. On average, equities research analysts expect 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 stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $31.40, for a total value of $109,900.00. Following the sale, the vice president now directly owns 13,429 shares of the company’s stock, valued at $421,670.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Juan Guerrero sold 3,962 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 49,344 shares in the company, valued at $1,525,716.48. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in the stock. Argent Capital Management LLC increased its position 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 position 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 acquired a new position in shares of Popular during the fourth quarter worth about $2,408,000. Finally, Dimensional Fund Advisors LP increased its position 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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