DALLAS, April 16, 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. The Company offers in Puerto Rico an array of retail and commercial banking services through its principal bank subsidiary Banco Popular de Puerto Rico (Banco Popular or the Bank). The Bank accounted for 66% of the total consolidated assets of the Company at December 31, 2008. Banco Popular has the retail franchise in Puerto Rico, with 179 branches and over 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.
In the report, the analyst notes:
"BPOP recently announced a preliminary net loss of approximately $85 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 it has priced an offering of $1.0 billion in depositary shares, each representing a 1/40th interest in a share of Contingent Convertible Perpetual Non-Cumulative Preferred Stock, Series D, no par value, $1,000 liquidation preference per share. The preferred stock represented by depositary shares will automatically convert into shares of BPOP common stock at a conversion rate of 8.3333 shares of common stock for each depositary share on the fifth business day after BPOP's common shareholders approve an amendment to increase the number of authorized shares."
To read the entire report visit: www.microstockprofit.com/ads/BPOP
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