Teacher Retirement System of Texas trimmed its stake in shares of Popular, Inc. (NASDAQ:BPOP – Get Rating) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,386 shares of the bank’s stock after selling 8,806 shares during the period. Teacher Retirement System of Texas’ holdings in Popular were worth $1,750,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. Goldman Sachs Group Inc. grew its holdings in Popular by 394.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,108,132 shares of the bank’s stock worth $85,249,000 after acquiring an additional 883,818 shares during the period. Vanguard Group Inc. grew its holdings in Popular by 11.6% in the third quarter. Vanguard Group Inc. now owns 7,880,331 shares of the bank’s stock valued at $567,856,000 after purchasing an additional 816,384 shares during the period. Verition Fund Management LLC grew its holdings in Popular by 179.3% in the third quarter. Verition Fund Management LLC now owns 431,868 shares of the bank’s stock valued at $31,120,000 after purchasing an additional 277,251 shares during the period. State Street Corp grew its holdings in Popular by 11.8% in the third quarter. State Street Corp now owns 2,478,197 shares of the bank’s stock valued at $179,787,000 after purchasing an additional 262,172 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Popular by 42.2% in the third quarter. Thrivent Financial for Lutherans now owns 538,031 shares of the bank’s stock valued at $38,770,000 after purchasing an additional 159,713 shares during the period. 86.01% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
BPOP has been the topic of several research analyst reports. StockNews.com started coverage on Popular in a report on Thursday, May 18th. They issued a “hold” rating on the stock. UBS Group downgraded Popular from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $100.00 to $57.00 in a research report on Wednesday, March 15th. Royal Bank of Canada reduced their price objective on Popular from $74.00 to $64.00 in a research report on Friday, March 24th. Finally, Keefe, Bruyette & Woods upgraded Popular from a “market perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research report on Wednesday, April 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.
Popular Stock Up 3.1 %
Popular (NASDAQ:BPOP – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The bank reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.18. Popular had a return on equity of 25.51% and a net margin of 29.29%. The business had revenue of $693.62 million during the quarter, compared to analysts’ expectations of $690.66 million. During the same period in the previous year, the firm posted $2.69 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Popular, Inc. will post 7.16 earnings per share for the current fiscal year.
Popular Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 1st will be given a dividend of $0.55 per share. The ex-dividend date is Wednesday, May 31st. This represents a $2.20 annualized dividend and a dividend yield of 3.48%. Popular’s dividend payout ratio is currently 15.44%.
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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