Today’s Price Action: Is Buying Popular Inc Here a Winning Strategy?

Today's Price Action: Is Buying Popular Inc Here a Winning Strategy?

The stock of Popular Inc (NASDAQ:BPOP) is a huge mover today! About 745,122 shares traded hands or 35.88% up from the average. Popular Inc (NASDAQ:BPOP) has risen 41.87% since April 8, 2016 and is uptrending. It has outperformed by 36.22% the S&P500.
The move comes after 7 months positive chart setup for the $4.31 billion company. It was reported on Nov, 10 by Barchart.com. We have $57.37 PT which if reached, will make NASDAQ:BPOP worth $1.77 billion more.

Popular Inc (NASDAQ:BPOP) Ratings Coverage

Out of 9 analysts covering Popular Inc (NASDAQ:BPOP), 7 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 78% are positive. Popular Inc has been the topic of 12 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Compass Point initiated it with “Buy” rating and $32 target price in Thursday, February 25 report. The firm has “Buy” rating by HSBC given on Tuesday, January 12. The firm earned “Outperform” rating on Friday, February 26 by Merion Capital. As per Monday, July 27, the company rating was upgraded by Guggenheim. The firm has “Buy” rating by Compass Point given on Thursday, April 28. The rating was initiated by Piper Jaffray with “Overweight” on Friday, April 8. The firm has “Sell” rating by Zacks given on Monday, August 24. Goldman Sachs upgraded the shares of BPOP in a report on Monday, July 27 to “Buy” rating. The firm earned “Underperform” rating on Wednesday, September 23 by Bank of America. The stock of Popular Inc (NASDAQ:BPOP) earned “Equal-Weight” rating by Barclays Capital on Thursday, June 23.

According to Zacks Investment Research, “Popular, Inc. is a diversified, publicly owned bank holding company. The corporation’s principal subsidiary, Banco Popular de Puerto Rico, has one of the largest retail franchise in Puerto Rico, operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands, the British Virgin Islands, and New York.”

Insitutional Activity: The institutional sentiment increased to 1.05 in 2016 Q2. Its up 0.01, from 1.04 in 2016Q1. The ratio increased, as 14 funds sold all Popular Inc shares owned while 78 reduced positions. 35 funds bought stakes while 62 increased positions. They now own 85.81 million shares or 0.79% less from 86.49 million shares in 2016Q1.
Parametrica Management Limited last reported 0.38% of its portfolio in the stock. Blackrock Advisors Ltd Liability Com owns 56,900 shares or 0% of their US portfolio. Proshare Advisors Limited Company last reported 0.01% of its portfolio in the stock. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Mgmt holds 23,000 shares or 0.01% of its portfolio. Fuller Thaler Asset Mngmt Incorporated holds 0% or 1,700 shares in its portfolio. Tarbox Group Incorporated has invested 0% of its portfolio in Popular Inc (NASDAQ:BPOP). Lsv Asset holds 0.02% or 370,700 shares in its portfolio. Cubist Systematic Strategies Ltd Company has invested 0.01% of its portfolio in Popular Inc (NASDAQ:BPOP). Gabelli Funds Ltd Liability Corporation has invested 0.01% of its portfolio in Popular Inc (NASDAQ:BPOP). Zweig owns 7,600 shares or 0.02% of their US portfolio. Parametric Portfolio Associate Ltd Liability Company has invested 0.04% of its portfolio in Popular Inc (NASDAQ:BPOP). Ladenburg Thalmann last reported 0% of its portfolio in the stock. The Massachusetts-based Highvista Strategies Limited Liability Company has invested 0.24% in Popular Inc (NASDAQ:BPOP). Highbridge Mngmt Ltd Limited Liability Company accumulated 356,167 shares or 0.17% of the stock. Ig Invest Management has 14,971 shares for 0% of their US portfolio.

Insider Transactions: Since May 12, 2016, the stock had 0 insider buys, and 5 insider sales for $1.22 million net activity. Garcia Jorge J. had sold 3,500 shares worth $109,900 on Tuesday, May 24. $122,497 worth of Popular Inc (NASDAQ:BPOP) was sold by GUERRERO JUAN. $118,496 worth of Popular Inc (NASDAQ:BPOP) was sold by MONZON GILBERTO on Thursday, May 12. CARRION RICHARD L also sold $631,164 worth of Popular Inc (NASDAQ:BPOP) shares. 3,762 shares with value of $139,081 were sold by SEPULVEDA ELI on Thursday, October 27.

Another recent and important Popular Inc (NASDAQ:BPOP) news was published by Reuters.com which published an article titled: “BRIEF-Popular Inc Q3 earnings per share $0.44” on October 25, 2016.

BPOP Company Profile

Popular, Inc. (Popular), incorporated on November 20, 1984, is a financial holding company. The Firm operates in two divisions: 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 Firm has activities in Puerto Rico, the United States and the Caribbean.

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