Short Interest dropping for Popular, Inc. (NASDAQ:BPOP)

Popular, Inc. (NASDAQ:BPOP) (TREND ANALYSIS) shares were traded with no significant volume change. The stock closed last trading session at $29.29, up by 6.83%, with a volume of 1,174,269 shares against an average volume for the last 30 days of 1,659,992.

Popular, Inc. (BPOP) reported last quarter earnings figures on July 24th. The company announced actual earnings per share of $0.86 against the consensus Street estimate of $0.89. This represents a year-on-year increase of earning per share of $0.14 from corresponding quarter of last year. Popular, Inc. posted revenue of $505.31 million.

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The company is currently valued at $3.24 billion and closed the last trading session at $29.29. The stock has 50-day moving average of $31.93 and a 200-day moving average of $32.47.

Popular, Inc. (NASDAQ:BPOP) is currently trading 12.7% below its 52-week-high, 17.9% above its 52-week-low and in the range of $27.38-$34.95 over the past month. The 1-year range for the stock is $26.53-$35.83. Popular, Inc. (BPOP) has a price to book ratio of 0.75 versus Nasdaq average of 4.81. The company’s share price has underperformed the Nasdaq year to date by -9.74%.

Popular, Inc. (BPOP) current short interest stands at 1,901,335 shares. It has decreased by -12% from the same period of last month. Around 1.9% of the company’s shares, which are float, are short sold. With a 30-days average daily volume of 1,659,992 shares, the number of days required to cover the short positions stand at 0.9 days.

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There are currently seven analysts that we track that cover BPOP. Of those seven, four have a buy rating, two have a hold rating, and one has a sell rating. On a consensus basis this yields to a Buy. The overall consensus target price stands at $36.58 which represents an upside of 16.93% from the last closing price of $31.28.

Indeed, Keefe, Bruyette & Woods reiterated their outperform stance on July 24th, with a target price of $39, which represents an upside of 24.68% from the last closing price. Another research firm, BTIG LLC, reiterated their buy stance on July 20th, with a target price of $39, which translates into an upside of 24.68%. Finally, Guggenheim Securities maintained their neutral stance on July 16th.

Company Profile

Popular, Inc. is a bank holding company that provides commercial banking services through branches in Puerto Rico, the British Virgin Islands, the Dominican Republic, and the United States mainland. The Company also provides mortgage and consumer finance, lease financing, investment banking and broker/dealer activities, retail financial services, and automated tellers.

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