Popular Sees Unusually High Options Volume (BPOP)
Popular Inc (NASDAQ:BPOP) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 1,954 call options on the company. This is an increase of approximately 1,169% compared to the average daily volume of 154 call options.
Shares of Popular (NASDAQ:BPOP) opened at $40.40 on Friday. The stock has a market cap of $4,120.00, a PE ratio of 40.00 and a beta of 1.31. Popular has a 1-year low of $32.04 and a 1-year high of $45.96.
Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). The company had revenue of $478.50 million for the quarter, compared to analysts’ expectations of $513.85 million. Popular had a return on equity of 5.25% and a net margin of 4.89%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. analysts anticipate that Popular will post 3.45 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in BPOP. The Manufacturers Life Insurance Company boosted its stake in Popular by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock worth $124,000 after buying an additional 200 shares during the period. ETRADE Capital Management LLC purchased a new position in Popular during the second quarter worth about $204,000. State of Alaska Department of Revenue purchased a new position in Popular during the fourth quarter worth about $209,000. Cornerstone Capital Management Holdings LLC. boosted its stake in Popular by 229.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock worth $233,000 after buying an additional 3,900 shares during the period. Finally, M&T Bank Corp boosted its stake in Popular by 2.8% during the second quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock worth $241,000 after buying an additional 159 shares during the period. 88.89% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on BPOP. Morgan Stanley upped their price objective on shares of Popular from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday. Barclays upped their price objective on shares of Popular from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Citigroup upped their price objective on shares of Popular from $47.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of Popular from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.07.
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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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