Popular Inc. (BPOP) Sees Unusually-High Trading Volume
Popular Inc. (NASDAQ:BPOP) saw unusually-high trading volume on Tuesday . Approximately 1,124,238 shares changed hands during 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.
BPOP has been the topic of a number of research reports. Compass Point restated a “buy” rating and set a $35.00 price target (up previously from $32.00) on shares of Popular in a research note on Thursday, April 28th. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Friday, April 29th. Barclays PLC initiated coverage on Popular in a research note on Thursday, June 23rd. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, BTIG Research restated a “buy” rating and set a $41.00 price target on shares of Popular in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.43.
The firm’s 50-day moving average is $32.59 and its 200 day moving average is $29.44. The company has a market cap of $3.93 billion and a P/E ratio of 9.94.
Popular (NASDAQ:BPOP) last issued 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 last year, the firm posted $5.79 EPS. Analysts predict that Popular Inc. will post $3.41 earnings per share for the current fiscal year.
In related news, VP Jorge J. Garcia sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was 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 $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 business’s 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 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 have recently made changes to their positions in the stock. Argent Capital Management LLC boosted its stake 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 valued at $1,585,000 after buying an additional 13,000 shares during the last quarter. Airain ltd boosted its stake in shares of 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 during the last quarter. Marshall Wace LLP purchased a new stake in shares of Popular during the fourth quarter valued at about $2,408,000. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $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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