Unpredictable is probably the best way to describe how the market is going to react to news, and I mean any news, that comes from the major banks operating in Puerto Rico. Though, to be fair, when it comes to the announcements made by Popular (NASDAQ:BPOP) last month, the good consistently came with a dose of bad.
And, on top of this, the message sent out last quarter has to make investors wonder what management is thinking. Not too long ago the plan was to strengthen U.S. operations in an attempt to distance itself from Puerto Rico, but now the bank is selling out of every office that isn't on the island or located in New York.
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