BTIG Downgrades Popular to Hold

By Ryan Adsit

BTIG analyst Mark Palmer downgraded Popular (NASDAQ: BPOP) to Hold today. The company’s shares closed yesterday at $41.49, close to its 52-week high of $42.83.

According to TipRanks.com, Palmer is a 4-star analyst with an average return of 1.9% and a 56.9% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.

Popular has an analyst consensus of Moderate Buy.

Based on Popular’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $537 million and quarterly net profit of $46.81 million. In comparison, last year the company earned revenue of $532 million and had a net profit of $85.64 million.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Eli Sepulveda, the EVP of BPOP sold 2,500 shares for a total of $104,250.

Popular, Inc. is a holding company, which engages in the provision of banking and financial services. It operates through the Banco Popular de Puerto Rico and Banco Popular North America segments. The Banco Popular de Puerto Rico segment includes mortgage loans, auto and equipment leasing, investment banking, and insurance products. The Banco Popular North America segment offers community banking services. The company was founded on October 5, 1893 and is headquartered in San Juan, Puerto Rico.