Popular, Inc. (NASDAQ:BPOP) announced its earnings results on Tuesday. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76), Briefing.com reports. Popular had a return on equity of 5.72% and a net margin of 9.98%. The company had revenue of $478.50 million for the quarter, compared to analyst estimates of $513.85 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Popular’s revenue for the quarter was up 11.3% on a year-over-year basis.

A number of brokerages have recently issued reports on BPOP. Barclays PLC upped their target price on shares of Popular from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and set a $50.50 target price on shares of Popular in a research report on Wednesday. BTIG Research upgraded shares of Popular from a “neutral” rating to a “buy” rating in a research report on Tuesday. ValuEngine lowered shares of Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Zacks Investment Research lowered shares of Popular from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.75.

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A hedge fund recently raised its stake in Popular stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,980 shares of the bank’s stock after acquiring an additional 200 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Popular were worth $124,000 at the end of the most recent quarter. 85.56% of the stock is owned by institutional investors.

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.

Earnings History for Popular (NASDAQ:BPOP)

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