Cubist Systematic Strategies LLC grew its holdings in shares of Popular, Inc. (NASDAQ:BPOP – Get Rating) by 98.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,706 shares of the bank’s stock after buying an additional 22,202 shares during the period. Cubist Systematic Strategies LLC owned 0.06% of Popular worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Renaissance Technologies LLC raised its holdings in shares of Popular by 156.7% during the third quarter. Renaissance Technologies LLC now owns 137,925 shares of the bank’s stock valued at $9,939,000 after buying an additional 84,200 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of Popular by 179.3% during the third quarter. Verition Fund Management LLC now owns 431,868 shares of the bank’s stock valued at $31,120,000 after buying an additional 277,251 shares during the last quarter. AXA S.A. raised its holdings in shares of Popular by 53.3% during the third quarter. AXA S.A. now owns 207,625 shares of the bank’s stock valued at $14,962,000 after buying an additional 72,200 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Popular by 225.3% during the third quarter. Hsbc Holdings PLC now owns 70,672 shares of the bank’s stock valued at $5,151,000 after buying an additional 48,949 shares during the last quarter. Finally, Pictet Asset Management SA raised its holdings in shares of Popular by 9.8% during the third quarter. Pictet Asset Management SA now owns 5,620 shares of the bank’s stock valued at $405,000 after buying an additional 500 shares during the last quarter. Institutional investors own 86.01% of the company’s stock.
Popular Stock Performance
Popular stock opened at $66.74 on Wednesday. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 4.53 and a beta of 0.85. Popular, Inc. has a 1 year low of $62.55 and a 1 year high of $86.84. The firm’s 50 day moving average price is $68.91 and its two-hundred day moving average price is $71.00.
Popular Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, March 17th. This represents a $2.20 annualized dividend and a yield of 3.30%. Popular’s dividend payout ratio (DPR) is 14.95%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on BPOP. Piper Sandler cut their price target on Popular from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Royal Bank of Canada dropped their target price on Popular from $80.00 to $75.00 in a report on Thursday, January 26th. StockNews.com cut Popular from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. UBS Group dropped their target price on Popular to $100.00 in a report on Wednesday, November 16th. Finally, Wells Fargo & Company dropped their target price on Popular from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, December 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.80.
Popular Company Profile
Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico, Popular U.S., and Corporate Group. The Banco Popular de Puerto Rico segment includes commercial banking, consumer and retail banking, and other financial services.
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