Popular Inc. (BPOP) Sees Large Volume Increase
Popular Inc. (NASDAQ:BPOP) shares saw unusually-strong trading volume on Tuesday . Approximately 1,124,238 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 750,743 shares.The stock last traded at $37.37 and had previously closed at $37.13.
A number of research analysts have recently weighed in on BPOP shares. BTIG Research reissued a “buy” rating and issued a $41.00 price objective on shares of Popular in a report on Tuesday, July 12th. Barclays PLC increased their price objective on Popular from $32.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Compass Point reissued a “buy” rating and issued a $35.00 price objective (up from $32.00) on shares of Popular in a report on Thursday, April 28th. Finally, Zacks Investment Research upgraded Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $35.43.
The firm has a market cap of $3.88 billion and a P/E ratio of 9.81. The stock has a 50-day moving average price of $32.32 and a 200 day moving average price of $29.38.
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, topping the Zacks’ consensus estimate of $0.81 by $0.04. During the same period in the previous year, the company earned $5.79 EPS. Analysts forecast that Popular Inc. will post $3.41 EPS for the current fiscal year.
In other news, VP Jorge J. Garcia sold 3,500 shares of Popular stock in a transaction dated Tuesday, May 24th. The stock was 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 in the company, valued at $421,670.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juan Guerrero sold 3,962 shares of Popular stock in a transaction dated 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 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 have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted 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 worth $66,965,000 after buying an additional 797,142 shares during the period. Marshall Wace LLP purchased a new stake in Popular during the fourth quarter worth approximately $2,408,000. Airain ltd boosted its stake in 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. Finally, Argent Capital Management LLC boosted 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 worth $1,585,000 after buying an additional 13,000 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.