DALLAS, Aug. 27, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring financial institution Popular Inc. (Nasdaq:BPOP). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Popular Inc. (Nasdaq:BPOP) should be of particular interest to other financial companies: First Bancorp (NYSE:FBP), Santander Bancorp (NYSE:SBP) and W Holding Co. Inc. (NYSE:WHI).
It is available at: http://www.beaconequity.com/i/BPOP
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Popular Inc. (BPOP) operates more than 175 financial branches in Puerto Rico and eight branches in the U.S. Virgin Islands. The Company holds the largest market share of bank deposits in Puerto Rico, and maintains approximately 600 automated teller machines. Its subsidiary, EVERTEC, processes more than 1 billion transactions in the Caribbean and Latin America.
In the report, the analyst notes:
"Bank stocks have rallied strongly following the market lows of March 2009, but still remain at depressed levels as the U.S. economy remains in recession. The Company is afflicted with balance sheet woes similar to the bigger-name money center banks, such as CitiGroup and Bank of America.
"In early August, the Company completed a new issuance of common stock in exchange for the total outstanding preferred and trust preferred shares. The new stock issuance expands its common equity base and provides the Company additional time to work off its troubled assets on its balance sheet. The Company's solvency will be determined by the FDIC through recommendations of the U.S. Federal Reserve System and the U.S. Department of Treasury."
To read the entire report visit: http://www.beaconequity.com/i/BPOP
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