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BPOP

Popular

$49.65

-0.67 (-1.33%)

, WFC

Wells Fargo

$57.28

-1.12 (-1.92%)

09:28
08/01/18
08/01
09:28
08/01/18
09:28

Popular completes Wells Fargo Puerto Rican auto finance business acquisition

Popular (BPOP) announced that Popular Auto, Banco Popular de Puerto Rico's auto finance subsidiary, completed today the acquisition of certain assets and the assumption of certain liabilities related to Wells Fargo (WFC) auto finance business in Puerto Rico. Popular Auto acquired approximately $1.6B in retail auto loans and $360 M in primarily auto-related commercial loans. Reliable will continue operating as a Division of Popular Auto in parallel with Popular Auto's existing operations for a period of time after closing to provide continuity of service to Reliable customers while allowing Popular to assess best practices before completing the integration of the two operations. Substantially all Reliable employees have received and accepted offers of employment from Popular Auto. Wells Fargo retained approximately $385M in retail auto loans as part of the transaction and has entered into a loan servicing agreement with Popular Auto with respect to such loans.

BPOP

Popular

$49.65

-0.67 (-1.33%)

WFC

Wells Fargo

$57.28

-1.12 (-1.92%)

  • 12

    Apr

  • 13

    Jul

  • 12

    Oct

BPOP Popular
$49.65

-0.67 (-1.33%)

11/28/17
11/28/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Home Depot (HD) upgraded to Overweight from Neutral at Atlantic Equities with analyst Sam Hudson saying the U.S. housing backdrop remains strong and recent hurricanes should provide a tailwind through the first half of 2018, at the very least. 2. TCF Financial (TCF) was upgraded to Overweight from Neutral at Piper Jaffray and to Buy from Hold at Sandler O'Neill. 3. Popular (BPOP) and OFG Bancorp (OFG) were upgraded to Outperform from Market Perform at Keefe Bruyette. 4. Mellanox (MLNX) upgraded to Equal Weight from Underweight at Barclays with analyst Joseph Wolf saying he believes activist Starboard can bring upon change and will serve as a "positive technical element to near-term stock performance." 5. TriplePoint Venture (TPVG) upgraded to Buy from Neutral at Compass Point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/21/17
SBSH
12/21/17
INITIATION
Target $47
SBSH
Buy
Popular initiated with a Buy at Citi
Citi analyst Arren Cyganovich started Popular with a Buy rating and $47 price target. The analyst believes the market is overly discounting the hurricane impacts and the bank's exposure to Puerto Rico economic weakness. Cyganovich finds Popular well positioned to maintain lower funding costs and benefit from the post-hurricane recovery.
07/16/18
PIPR
07/16/18
UPGRADE
Target $17
PIPR
Overweight
OFG Bancorp upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Brett Rabatin upgraded OFG Bancorp(OFG) to Overweight and raised his price target for the shares to $17 from $15.50. The analyst has increased confidence on the bank's forward net interest margin and a move higher in its profitability over the next year. He believes the upcoming quarterly results will serve as catalysts for Puerto Rican banks Popular (BPOP), First BanCorp (FBP) and OFG.
07/24/18
SBSH
07/24/18
NO CHANGE
Target $59
SBSH
Buy
Citi ups Popular target to $59, removes from Focus List
Citi analyst Arren Cyganovich removed Popular from his firm's Focus List following the company's Q2 results. The analyst says the primary catalysts for the Focus List, strong deposit growth and a new $125M share repurchase plan announced, are now better reflected in consensus estimates. He continues to view Popular as an attractively priced bank that should continue to benefit from current trends. The analyst raised his price target for the shares to $59 from $55 and keeps a Buy rating on the name.
WFC Wells Fargo
$57.28

-1.12 (-1.92%)

07/15/18
KBWI
07/15/18
UPGRADE
Target $63
KBWI
Outperform
Wells Fargo upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl upgraded Wells Fargo to Outperform and raised his price target for the shares to $63 from $57. The stock closed Friday down 67c to $55.36. Current share levels offer an attractive entry point for a "self-help stock" that can generate "material" earnings growth near-term, Kleinhanzl tells investors in a research note. The analyst saw enough in Wells Fargo's most recent quarter to get him more constructive. He raised his earnings estimates and sees additional upside if management can drive expenses toward the company's investor day simulation range of $50B-$51B in 2020. Kleinhanzl sees expense saves and capital returns driving shares of Wells Fargo higher.
07/16/18
BMOC
07/16/18
NO CHANGE
Target $61
BMOC
Market Perform
Wells Fargo price target raised to $61 at BMO Capital after in-line Q2
BMO Capital analyst James Fotheringham kept his Market Perform rating and nudged his price target on Wells Fargo (WFC) to $61 from $59 after the company's in-line Q2 "core" results which also showed higher than expected net interest margins and lower loss provisions. The analyst notes that after relative underperformance by the financials sector this year, he would recommend that investors buy "inexpensive stocks with near-term catalysts", including Santander (SC), OneMain (OMF), and Synchony (SYF).
07/16/18
07/16/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Brian Kleinhanzl saying current share levels offer an attractive entry point for a "self-help stock" that can generate "material" earnings growth near-term. 2. VF Corp. (VFC) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying he sees an attractive risk/reward profile at current share levels given the company's "multi-year inflection." 3. UPS (UPS) upgraded to Buy from Neutral at UBS with analyst Thomas Wadewitz saying the combination of cost and productivity improvements, coupled with a constructive" revenue backdrop, provide potential for improved Domestic Package margin performance and stronger operating income growth in 2019 for UPS. 4. Autoliv (ALV) upgraded to Outperform from Neutral at Daiwa. 5. Saratoga Investment (SAR) upgraded to Buy from Neutral at Compass Point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
OPCO
07/20/18
NO CHANGE
OPCO
Perform
Wells Fargo's next few earnings reports likely to be 'choppy,' says Oppenheimer
Oppenheimer analyst Chris Kotowski maintained a Perform rating on Wells Fargo (WFC) after recent meetings with CFO John Shrewsberry. In a research note to investors, Kotowski says there was nothing that shakes his view that the next few quarterly earnings reports are likely to still be "choppy," and notes that Shewsberry "readily acknowledged" that there was much work to be done to get the consent order lifted. At the same time, the analyst contends that shares are not trading at much of a discount versus other high performing banks like JPMorgan (JPM) and PNC (PNC) and says he favors companies that have lower but rising ROTCEs that are trading near TBV, especially Citi (C), CIT (CIT) and Goldman (GS).

TODAY'S FREE FLY STORIES

FDX

FedEx

$192.94

-8.31 (-4.13%)

, UPS

UPS

$104.42

-0.9 (-0.85%)

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FDX

FedEx

$192.94

-8.31 (-4.13%)

UPS

UPS

$104.42

-0.9 (-0.85%)

AMZN

Amazon.com

$1,640.37

11.18 (0.69%)

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CVON

ConvergeOne

$12.50

0.04 (0.32%)

06:19
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YRCW

YRC Worldwide

$4.96

-0.16 (-3.13%)

06:18
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12/11
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06:18
Recommendations
YRC Worldwide analyst commentary  »

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STKL

SunOpta

$4.49

-0.09 (-1.97%)

06:17
12/11/18
12/11
06:17
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06:17
Conference/Events
SunOpta management to meet with William Blair »

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ASR

Asur

$142.35

2.27 (1.62%)

06:16
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06:16
Upgrade
Asur rating change  »

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VSLR

Vivint Solar

$5.28

0.05 (0.96%)

06:16
12/11/18
12/11
06:16
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06:16
Conference/Events
Vivint Solar management to meet with JMP Securities »

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DBX

Dropbox

06:15
12/11/18
12/11
06:15
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06:15
Initiation
Dropbox initiated  »

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ZNGA

Zynga

$3.68

0.07 (1.94%)

06:15
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12/11
06:15
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06:15
Upgrade
Zynga rating change  »

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VPG

Vishay Precision

$30.59

0.74 (2.48%)

06:14
12/11/18
12/11
06:14
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06:14
Conference/Events
Vishay Precision management to meet with Sidoti »

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BOX

Box

$18.60

0.42 (2.31%)

06:14
12/11/18
12/11
06:14
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06:14
Initiation
Box initiated  »

Box initiated with an…

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SFIX

Stitch Fix

$25.92

-0.42 (-1.59%)

06:14
12/11/18
12/11
06:14
12/11/18
06:14
Recommendations
Stitch Fix analyst commentary  »

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AVVIY

Aviva

$0.00

(0.00%)

06:13
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12/11
06:13
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VALE

Vale

$12.86

-0.275 (-2.09%)

06:12
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06:12
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HYMTF

Hyundai Motor

$0.00

(0.00%)

06:11
12/11/18
12/11
06:11
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06:11
Periodicals
Hyundai Motor's two R&D vice chairmen offer to step down, Reuters reports »

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MO

Altria Group

$53.35

-0.83 (-1.53%)

, CRON

Cronos Group

$12.88

0.16 (1.26%)

06:11
12/11/18
12/11
06:11
12/11/18
06:11
Recommendations
Altria Group, Cronos Group, Philip Morris analyst commentary  »

Altria could partner with…

MO

Altria Group

$53.35

-0.83 (-1.53%)

CRON

Cronos Group

$12.88

0.16 (1.26%)

PM

Philip Morris

$84.20

-0.36 (-0.43%)

03/08/13
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EQNR

Equinor

$22.94

-0.24 (-1.04%)

06:09
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06:09
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Equinor rating change  »

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DIS

Disney

$111.84

-0.16 (-0.14%)

, FOX

21st Century Fox

$49.03

0.04 (0.08%)

06:08
12/11/18
12/11
06:08
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06:08
Periodicals
Disney to split up Fox's regional sports networks to sell, NY Post reports »

Disney (DIS) is planning…

DIS

Disney

$111.84

-0.16 (-0.14%)

FOX

21st Century Fox

$49.03

0.04 (0.08%)

FOXA

21st Century Fox

$49.35

0.09 (0.18%)

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CTSH

Cognizant

$67.07

-0.94 (-1.38%)

06:08
12/11/18
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Cognizant to acquire Mustache creative content agency »

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UIS

Unisys

$13.04

0.29 (2.27%)

06:08
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Conference/Events
Unisys management to meet with Loop Capital »

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RGA

Reinsurance Group

$137.72

-1.84 (-1.32%)

06:08
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PFG

Principal Financial

$42.93

-1.52 (-3.42%)

06:08
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TRV

Travelers

$123.04

-0.52 (-0.42%)

06:08
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06:08
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Travelers rating change  »

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  • 13

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CRM

Salesforce

$137.29

1.31 (0.96%)

06:07
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06:07
Hot Stocks
Salesforce names Paula Goldman as first Chief Ethical and Humane Use Officer »

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CRS

Carpenter Technology

$39.05

-0.86 (-2.15%)

06:07
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06:07
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TOT

Total

$54.13

-0.345 (-0.63%)

06:07
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06:07
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