Popular Inc. (BPOP) Hits New 1-Year High at $37.25
Popular Inc. (NASDAQ:BPOP) shares hit a new 52-week high on Monday . The stock traded as high as $37.25 and last traded at $37.23, with a volume of 262,390 shares. The stock had previously closed at $36.95.
Several research analysts have recently weighed in on BPOP shares. Barclays PLC started coverage on Popular in a report on Thursday, June 23rd. They set an “equal weight” rating and a $32.00 target price on the stock. BTIG Research restated a “buy” rating and set a $41.00 target price on shares of Popular in a report on Tuesday, July 12th. Compass Point restated a “buy” rating and set a $35.00 target price (up from $32.00) on shares of Popular in a report on Thursday, April 28th. Finally, 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 report on Friday, April 29th. One 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 company’s 50-day moving average price is $32.03 and its 200-day moving average price is $29.29. The firm has a market cap of $3.85 billion and a PE ratio of 9.74.
Popular (NASDAQ:BPOP) last issued its 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 in the previous year, the firm earned $5.79 earnings per share. On average, equities analysts anticipate that Popular Inc. will post $3.41 EPS for the current fiscal year.
In other Popular news, EVP Juan Guerrero sold 3,962 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $30.92, for a total value 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 $1,525,716.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jorge J. Garcia sold 3,500 shares of the 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 completion of 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 recently modified their holdings of the company. Dimensional Fund Advisors LP boosted 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 period. Marshall Wace LLP bought a new position in shares of Popular during the fourth quarter worth about $2,408,000. Argent Capital Management LLC boosted 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 period. Finally, Airain ltd boosted 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 period.
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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