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Popular (NASDAQ:BPOP) Downgraded to “Hold” at StockNews.com


Popular (NASDAQ:BPOPGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other equities analysts have also recently issued reports on BPOP. Wells Fargo & Company cut their target price on shares of Popular from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, October 27th. UBS Group lowered their target price on shares of Popular to $100.00 in a report on Wednesday, November 16th. Piper Sandler lowered their target price on shares of Popular to $90.00 in a report on Tuesday, November 1st. Finally, Royal Bank of Canada decreased their price objective on shares of Popular from $91.00 to $80.00 in a research note on Thursday, October 27th.

Popular Price Performance

Shares of BPOP stock traded down $0.51 during mid-day trading on Monday, hitting $71.49. The stock had a trading volume of 462,747 shares, compared to its average volume of 619,682. Popular has a fifty-two week low of $65.47 and a fifty-two week high of $99.49. The firm has a market cap of $5.20 billion, a PE ratio of 5.20 and a beta of 0.85. The company’s 50-day simple moving average is $71.92 and its 200-day simple moving average is $76.26.

Hedge Funds Weigh In On Popular

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Popular by 11.6% during the third quarter. Vanguard Group Inc. now owns 7,880,331 shares of the bank’s stock valued at $567,856,000 after buying an additional 816,384 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Popular by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,086,384 shares of the bank’s stock valued at $334,026,000 after purchasing an additional 42,504 shares during the last quarter. State Street Corp boosted its position in shares of Popular by 11.8% in the third quarter. State Street Corp now owns 2,478,197 shares of the bank’s stock valued at $179,787,000 after acquiring an additional 262,172 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Popular by 394.0% in the second quarter. Goldman Sachs Group Inc. now owns 1,108,132 shares of the bank’s stock valued at $85,249,000 after acquiring an additional 883,818 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of Popular by 59.0% in the first quarter. Lord Abbett & CO. LLC now owns 901,588 shares of the bank’s stock valued at $73,696,000 after acquiring an additional 334,727 shares during the period. Institutional investors own 91.48% of the company’s stock.

About Popular

(Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.

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Read More: Popular (NASDAQ:BPOP) Downgraded to “Hold” at StockNews.com

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