Morgan Stanley Maintains Popular Inc to Equal-weight with Price Target $33.00

Brokerage firm Morgan Stanley Maintains its rating on Popular Inc(NASDAQ:BPOP). In a research note issued to the investors, the brokerage major Raises the price-target to $33.00 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Aug 1, 2016.

In a different note, On Jul 28, 2016, Barclays said it Maintains its rating on Popular Inc. In the research note, the firm Raises the price-target to $32.00 per share. The shares have been rated ‘Equalweight’ by the firm. Barclays said it Initiates Coverage on Popular Inc, according to a research note issued on Jun 23, 2016. The shares have been rated ‘Equal-weight’ by the firm.

Popular Inc (BPOP) made into the market gainers list on Mondays trading session with the shares advancing 1.26% or 0.46 points. Due to strong positive momentum, the stock ended at $36.93, which is also near the day’s high of $36.95. The stock began the session at $36.37 and the volume stood at 7,81,015 shares. The 52-week high of the shares is $36.95 and the 52 week low is $22.4. The company has a current market capitalization of $3,830 M and it has 10,37,04,084 shares in outstanding.

Popular Inc(BPOP) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $360.55M. Analysts had an estimated revenue of $370.98M. Earnings per share were $0.88. Analysts had estimated an EPS of $0.81.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Juan Guerrero (Executive Vice President) sold 3,962 shares at $30.92 per share price.Also, On May 25, 2016, Jorge J. Garcia (Senior VP & Comptroller) sold 3,500 shares at $31.40 per share price.On May 13, 2016, Gilberto Monzon (EXECUTIVE VICE PRESIDENT) sold 4,000 shares at $29.62 per share price, according to the Form-4 filing with the securities and exchange commission.

Popular Inc. (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR) and Banco Popular North America (BPNA). The Company’s BPPR segment provides retail including residential mortgage loans originations and commercial banking services through its banking subsidiary Banco Popular de Puerto Rico as well as auto and equipment leasing and financing investment banking broker-dealer and insurance services through specialized subsidiaries. The Company’s BPNA segment consists of Popular North America Inc. (PNA) functioning as the holding company for the Company’s operations in the United States. The banking operations of BPNA in the United States mainland are based in New York Florida and New Jersey conducted under the name of Popular Community Bank.

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