Versor Investments LP decreased its position in shares of Popular, Inc. (NASDAQ:BPOP – Free Report) by 69.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,231 shares of the bank’s stock after selling 11,900 shares during the quarter. Versor Investments LP’s holdings in Popular were worth $300,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in BPOP. Exchange Traded Concepts LLC bought a new position in shares of Popular during the 1st quarter worth $41,000. International Assets Investment Management LLC bought a new position in Popular in the 4th quarter worth about $43,000. Emerald Mutual Fund Advisers Trust bought a new position in Popular in the 4th quarter worth about $79,000. Covestor Ltd boosted its stake in Popular by 68.9% in the 1st quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock worth $90,000 after purchasing an additional 447 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Popular by 51.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,121 shares of the bank’s stock worth $91,000 after purchasing an additional 383 shares during the period. Institutional investors own 86.98% of the company’s stock.
Wall Street Analyst Weigh In
BPOP has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Popular from $75.00 to $80.00 in a research note on Thursday, July 27th. Royal Bank of Canada raised their price target on Popular from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, StockNews.com started coverage on Popular in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Popular currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.20.
Popular Trading Down 1.9 %
Shares of NASDAQ BPOP opened at $71.90 on Wednesday. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 5.29 and a beta of 0.83. Popular, Inc. has a 1-year low of $49.34 and a 1-year high of $82.71. The stock’s 50-day moving average is $64.38 and its 200 day moving average is $62.51.
Popular (NASDAQ:BPOP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.39. The company had revenue of $954.48 million for the quarter, compared to analysts’ expectations of $665.37 million. Popular had a return on equity of 24.36% and a net margin of 25.97%. During the same period last year, the firm posted $2.77 EPS. On average, analysts forecast that Popular, Inc. will post 7.91 EPS for the current fiscal year.
Popular Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 1st were issued a dividend of $0.55 per share. The ex-dividend date was Wednesday, May 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.06%. Popular’s dividend payout ratio is 16.20%.
Popular Company Profile
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.
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