Popular, Inc. (BPOP) Upgraded at Zacks Investment Research

Popular, Inc. (NASDAQ:BPOP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, September 7th. The firm presently has a $43.00 price target on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.63% from the company’s current price.

According to Zacks, “Popular, Inc. is a diversified, publicly owned bank holding company. The corporation’s principal subsidiary, Banco Popular de Puerto Rico, has one of the largest retail franchise in Puerto Rico, operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands, the British Virgin Islands, and New York. “

A number of other analysts also recently commented on BPOP. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Popular in a report on Friday, July 7th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price target on shares of Popular in a research note on Friday, July 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $51.00 price target on shares of Popular in a research note on Thursday, June 29th. BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Keefe, Bruyette & Woods set a $46.00 price objective on shares of Popular and gave the stock a “hold” rating in a research report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Popular has an average rating of “Hold” and a consensus target price of $47.50.

Shares of Popular (NASDAQ:BPOP) opened at 40.85 on Thursday. Popular has a 52 week low of $35.08 and a 52 week high of $45.96. The firm has a 50-day moving average price of $40.34 and a 200-day moving average price of $40.34. The firm has a market cap of $4.17 billion, a PE ratio of 18.45 and a beta of 1.29.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The company had revenue of $491.27 million during the quarter, compared to the consensus estimate of $500.66 million. Popular had a net margin of 11.57% and a return on equity of 7.11%. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, equities research analysts predict that Popular will post $3.84 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in BPOP. ProShare Advisors LLC raised its holdings in shares of Popular by 6.8% in the 1st quarter. ProShare Advisors LLC now owns 17,733 shares of the bank’s stock valued at $722,000 after purchasing an additional 1,134 shares in the last quarter. US Bancorp DE raised its stake in Popular by 3.2% during the 1st quarter. US Bancorp DE now owns 14,031 shares of the bank’s stock worth $572,000 after acquiring an additional 440 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Popular by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 558,663 shares of the bank’s stock worth $22,756,000 after acquiring an additional 7,375 shares in the last quarter. Suntrust Banks Inc. raised its stake in Popular by 0.9% during the 1st quarter. Suntrust Banks Inc. now owns 16,965 shares of the bank’s stock worth $690,000 after acquiring an additional 153 shares in the last quarter. Finally, Swiss National Bank raised its stake in Popular by 0.5% during the 1st quarter. Swiss National Bank now owns 171,500 shares of the bank’s stock worth $6,985,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.

Popular Company Profile

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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Analyst Recommendations for Popular (NASDAQ:BPOP)

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