Popular (BPOP) Price Target Raised to $41.00

Popular (NASDAQ:BPOP) had its target price boosted by Morgan Stanley from $40.00 to $41.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price objective indicates a potential upside of 14.27% from the stock’s current price.

Several other analysts have also issued reports on BPOP. Zacks Investment Research lowered Popular from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. ValuEngine lowered Popular from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Barclays reduced their target price on Popular from $47.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. BTIG Research raised Popular from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $50.50 target price on shares of Popular in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Popular presently has a consensus rating of “Hold” and an average price target of $46.42.

Popular (BPOP) traded down $0.12 on Wednesday, hitting $35.88. The stock had a trading volume of 747,900 shares, compared to its average volume of 742,728. The firm has a market cap of $3,672.95, a price-to-earnings ratio of 12.50 and a beta of 1.31. Popular has a 12 month low of $32.04 and a 12 month high of $45.96.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.76). The company had revenue of $478.50 million for the quarter, compared to analyst estimates of $513.85 million. Popular had a return on equity of 5.70% and a net margin of 9.98%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. sell-side analysts forecast that Popular will post 2.45 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in Popular by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after buying an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Popular by 12.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock valued at $162,000 after buying an additional 423 shares in the last quarter. ETRADE Capital Management LLC acquired a new stake in Popular in the second quarter valued at about $204,000. Cornerstone Capital Management Holdings LLC. boosted its stake in Popular by 229.4% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock valued at $233,000 after buying an additional 3,900 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Popular by 2.8% in the second quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock valued at $241,000 after buying an additional 159 shares in the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.

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About Popular

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.

Analyst Recommendations for Popular (NASDAQ:BPOP)

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