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Popular Stock Gaps Up On Today's Open (BPOP)

By TheStreet Wire 05/30/12 - 09:53 AM EDT

Find out if (BPOP) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Shares of Popular (Nasdaq:BPOP) were gapping up Wednesday morning with an open price 900% higher than Tuesday's closing price. The stock closed at $16.20 Tuesday and opened today's trading at $162.

The average volume for Popular has been 8.4 million shares per day over the past 30 days. Popular has a market cap of $1.69 billion and is part of the financial sector and banking industry. Shares are up 16.5% year to date as of the close of trading on Tuesday.

Popular, Inc., through its subsidiaries, provides a range of retail and commercial banking products and services primarily to institutional and retail customers in Puerto Rico and the Mainland United States. The company has a P/E ratio of 9.1, above the average banking industry P/E ratio of 8.6 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Popular as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income and good cash flow from operations. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Popular Ratings Report.

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