Principal Financial Group Inc. grew its stake in Popular, Inc. (NASDAQ:BPOP – Free Report) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 499,936 shares of the bank’s stock after buying an additional 5,878 shares during the period. Principal Financial Group Inc. owned approximately 0.69% of Popular worth $28,701,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Greenwich Wealth Management LLC lifted its position in shares of Popular by 0.5% in the fourth quarter. Greenwich Wealth Management LLC now owns 29,081 shares of the bank’s stock worth $1,929,000 after buying an additional 157 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Popular by 5.9% in the first quarter. Yousif Capital Management LLC now owns 2,856 shares of the bank’s stock worth $233,000 after buying an additional 160 shares during the last quarter. Assetmark Inc. lifted its position in shares of Popular by 47.6% during the 1st quarter. Assetmark Inc. now owns 688 shares of the bank’s stock worth $39,000 after purchasing an additional 222 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Popular by 5.8% during the 1st quarter. HighTower Advisors LLC now owns 4,333 shares of the bank’s stock worth $354,000 after purchasing an additional 239 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its position in shares of Popular by 0.8% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 33,530 shares of the bank’s stock worth $1,925,000 after purchasing an additional 258 shares during the last quarter. Institutional investors and hedge funds own 86.98% of the company’s stock.
Analyst Upgrades and Downgrades
BPOP has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on Popular from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. StockNews.com initiated coverage on Popular in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Wells Fargo & Company boosted their price objective on Popular from $75.00 to $80.00 in a research report on Thursday, July 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.20.
Popular Stock Down 0.9 %
Popular stock opened at $66.00 on Tuesday. The business has a 50 day moving average price of $65.52 and a two-hundred day moving average price of $62.53. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 4.86 and a beta of 0.83. Popular, Inc. has a 12 month low of $49.34 and a 12 month high of $82.05.
Popular (NASDAQ:BPOP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $2.10 EPS for the quarter, beating the consensus estimate of $1.71 by $0.39. The firm had revenue of $954.48 million during the quarter, compared to analysts’ expectations of $665.37 million. Popular had a return on equity of 23.65% and a net margin of 25.97%. During the same quarter in the prior year, the firm posted $2.77 EPS. On average, analysts expect that Popular, Inc. will post 7.91 earnings per share for the current fiscal year.
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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