Other analysts also recently issued reports about the company. BTIG Research reiterated a buy rating and set a $66.00 target price on shares of Popular in a research report on Thursday, July 25th. BidaskClub upgraded Popular from a sell rating to a hold rating in a research report on Saturday, June 29th. Finally, Zacks Investment Research upgraded Popular from a hold rating to a buy rating and set a $64.00 target price for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and an average price target of $62.75.
NASDAQ BPOP traded down $1.06 on Thursday, reaching $54.64. The stock had a trading volume of 420,516 shares, compared to its average volume of 496,622. The stock’s fifty day moving average is $54.95. Popular has a 1-year low of $44.22 and a 1-year high of $58.99. The stock has a market capitalization of $5.56 billion, a P/E ratio of 11.45 and a beta of 1.15.
Several hedge funds have recently made changes to their positions in the stock. Investec Asset Management LTD raised its position in Popular by 20.0% in the second quarter. Investec Asset Management LTD now owns 3,426,688 shares of the bank’s stock valued at $185,864,000 after purchasing an additional 570,666 shares during the last quarter. Norges Bank bought a new position in Popular in the fourth quarter valued at about $64,758,000. JPMorgan Chase & Co. raised its position in Popular by 18.9% in the first quarter. JPMorgan Chase & Co. now owns 1,174,483 shares of the bank’s stock valued at $61,225,000 after purchasing an additional 186,357 shares during the last quarter. Martingale Asset Management L P raised its position in Popular by 8.0% in the first quarter. Martingale Asset Management L P now owns 846,370 shares of the bank’s stock valued at $44,123,000 after purchasing an additional 62,405 shares during the last quarter. Finally, Minneapolis Portfolio Management Group LLC raised its position in Popular by 11.8% in the second quarter. Minneapolis Portfolio Management Group LLC now owns 563,520 shares of the bank’s stock valued at $30,565,000 after purchasing an additional 59,588 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.
Popular Company Profile
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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