Investors Sell Shares of Popular Inc. (BPOP) on Strength (BPOP)
Traders sold shares of Popular Inc. (NASDAQ:BPOP) on strength during trading on Tuesday. $5.98 million flowed into the stock on the tick-up and $32.39 million flowed out of the stock on the tick-down, for a money net flow of $26.41 million out of the stock. Of all stocks tracked, Popular had the 0th highest net out-flow for the day. Popular traded up $0.28 for the day and closed at $37.41
A number of brokerages recently commented on BPOP. Zacks Investment Research upgraded Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Barclays PLC boosted their price target on Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. BTIG Research reiterated a “buy” rating and set a $41.00 price target on shares of Popular in a research report on Tuesday, July 12th. Finally, Compass Point reiterated a “buy” rating and set a $35.00 price target (up previously from $32.00) on shares of Popular in a research report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Popular currently has an average rating of “Hold” and an average price target of $35.43.
The stock has a market capitalization of $3.88 billion and a price-to-earnings ratio of 9.81. The firm’s 50 day moving average is $32.32 and its 200 day moving average is $29.38.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. During the same period in the prior year, the company posted $5.79 earnings per share. Equities research analysts forecast that Popular Inc. will post $3.41 EPS for the current year.
In other news, EVP Juan Guerrero sold 3,962 shares of the 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 completion of the transaction, the executive vice president now directly owns 49,344 shares of the company’s stock, valued at approximately $1,525,716.48. The sale was disclosed in a legal 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 that occurred 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 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 institutional investors recently modified their holdings of the company. 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 last quarter. 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 last quarter. 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 last quarter. Finally, Marshall Wace LLP bought a new position in shares of Popular during the fourth quarter worth about $2,408,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.