DALLAS, May 18, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Popular Inc. (Nasdaq:BPOP). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/BPOP
Popular Inc. (BPOP) is a diversified bank holding company. The Company operates in three target markets: Puerto Rico, the mainland United States, and processing and other technology services in Puerto Rico, Venezuela, Florida and the Dominican Republic. In Puerto Rico the Company offers an array of retail and commercial banking services, through its principal bank subsidiary, Banco Popular de Puerto Rico (Banco Popular or the Bank). Banco Popular has the retail franchise in Puerto Rico, with 179 branches and more than 600 automated teller machines (ATMs). The Bank also operates seven branches in the United States Virgin Islands, one branch in the British Virgin Islands and one branch in New York. Banco Popular has two subsidiaries: Popular Auto Inc., a vehicle financing, leasing and daily rental company, and Popular Mortgage Inc., a mortgage loan company with 32 offices in Puerto Rico.
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In the report, the analyst notes:
"BPOP reported a net loss of $85.1 million for the quarter ended March 31, 2010, compared with a net loss of $213.2 million for the quarter ended December 31, 2009, and a net loss of $52.5 million for the quarter ended March 31, 2009.
"BPOP recently announced that shareholders approved a proposal to amend its Restated Articles of Incorporation to increase the authorized number of shares of common stock, par value $0.01 per share, from 700 million to 1.7 billion at its 2010 annual shareholders meeting. As a result, BPOP will automatically convert 46 million previously issued depositary shares into approximately 383 million additional shares of common stock (equivalent to a conversion rate of 8.3333 shares of common stock for each depositary share)."
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