RBC Capital Keeps a Buy Rating on Popular (BPOP)

RBC Capital analyst Gerard Cassidy maintained a Buy rating on Popular (BPOPResearch Report) on July 29 and set a price target of $91.00. The company’s shares closed last Monday at $77.81.

According to, Cassidy is a top 100 analyst with an average return of 21.8% and a 67.9% success rate. Cassidy covers the Financial sector, focusing on stocks such as Bank of New York Mellon Corporation, JPMorgan Chase & Co., and Fifth Third Bancorp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Popular with a $93.00 average price target, which is a 19.7% upside from current levels. In a report issued on July 29, Wells Fargo also maintained a Buy rating on the stock with a $95.00 price target.

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Based on Popular’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $680 million and net profit of $211 million. In comparison, last year the company earned revenue of $631 million and had a net profit of $218 million.

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BPOP in relation to earlier this year.

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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 Popular U.S. segments. The Banco Popular de Puerto Rico segment includes retail, mortgage, and commercial banking services through banking subsidiary. The Popular U.S. segment represents operations of the retail branch network in the U.S. mainland under the name of Popular. The company was founded on October 5, 1893 and is headquartered in San Juan, Puerto Rico.

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