Popular, Inc. (NASDAQ:BPOP) issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02, Briefing.com reports. Popular had a return on equity of 7.11% and a net margin of 11.57%. The company had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. During the same quarter in the prior year, the company posted $0.85 EPS.
Popular (NASDAQ BPOP) opened at 42.31 on Friday. The stock has a market capitalization of $4.32 billion, a PE ratio of 19.11 and a beta of 1.28. The firm has a 50-day moving average of $41.00 and a 200-day moving average of $41.26. Popular has a 52-week low of $33.77 and a 52-week high of $45.96.
In other Popular news, insider Eduardo J. Negron sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $39.98, for a total transaction of $99,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jorge J. Garcia sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $38.15, for a total transaction of $152,600.00. Following the transaction, the vice president now owns 11,502 shares of the company’s stock, valued at approximately $438,801.30. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in Popular during the second quarter valued at $263,000. O Shaughnessy Asset Management LLC raised its stake in Popular by 17.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,251 shares of the bank’s stock valued at $295,000 after buying an additional 1,070 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Popular by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock valued at $347,000 after buying an additional 128 shares in the last quarter. First Mercantile Trust Co. raised its stake in Popular by 16.9% in the first quarter. First Mercantile Trust Co. now owns 10,649 shares of the bank’s stock valued at $434,000 after buying an additional 1,539 shares in the last quarter. Finally, Heartland Advisors Inc. raised its stake in Popular by 4.9% in the first quarter. Heartland Advisors Inc. now owns 11,621 shares of the bank’s stock valued at $473,000 after buying an additional 539 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.
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A number of brokerages have weighed in on BPOP. Zacks Investment Research lowered Popular from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub upgraded Popular from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Royal Bank Of Canada restated a “buy” rating and set a $51.00 price objective on shares of Popular in a report on Thursday, June 29th. TheStreet upgraded Popular from a “c+” rating to a “b” rating in a report on Tuesday, April 25th. Finally, BTIG Research restated a “neutral” rating on shares of Popular in a report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.83.
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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