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Stock Market & Financial Investment News

News Breaks
June 18, 2014
17:43 EDTBPOPPopular receives regulatory approval to repay $935M in TARP funds
Popular announced today that it has received regulatory approval to repay $935M in TARP Capital Purchase Program funds to the U.S. Treasury. Popular intends to redeem its junior subordinated debentures held by Popular Capital Trust III, at a redemption price of 100% of the principal amount outstanding, plus accrued and unpaid interest. The Trust will in turn redeem the $935M of its trust capital securities held by the U.S. Treasury. The trust capital securities were issued to the U.S. Treasury in August 2009 in exchange for the 935,000 shares of Popularís Series C preferred stock initially issued in December 2008 to the U.S. Treasury under the TARP Capital Purchase Program. Popular intends to fund the repayment of the TARP funds from a combination of internal liquidity and an issuance of approximately $400M of debt securities, subject to market conditions. Popular does not intend to issue any equity in connection with the redemption. After the redemption, Popular intends to repurchase the outstanding warrant initially issued to the U.S. Treasury under the TARP Capital Purchase Program in 2008. The warrant represents the right to purchase 2,093,284 shares of Popularís common stock at an exercise price of $67 per share with an original term of 10 years. Popular has notified the U.S. Treasury of its intention to redeem the trust capital securities and repurchase the warrant, both of which are subject to the authorization of the U.S. Treasury. Upon redemption of the junior subordinated debentures, Popular expects to record a non-cash charge to earnings for the unamortized portion of the discount associated with the junior subordinated debentures, which at March 31 had a balance of $414.3M.
News For BPOP From The Last 14 Days
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July 27, 2015
10:00 EDTBPOPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
06:47 EDTBPOPPopular upgraded to Buy from Neutral at Guggenheim
Guggenheim upgraded Popular to Buy with a $37 price target given the recent sell-off in shares.
July 24, 2015
08:06 EDTBPOPPopular reports Q2 EPS $5.79 vs. ($4.98) last year
Reports Q2 tangible book value per share $41.75. Reports Q2 Common Equity Tier 1 ratio of 15.61%.
July 21, 2015
10:14 EDTBPOPHigh option volume stocks:
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