Balyasny Asset Management LLC Purchases Shares of 6363 Popular, Inc. (BPOP) – Week Herald


Balyasny Asset Management LLC purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,363 shares of the bank’s stock, valued at approximately $265,000.

Other institutional investors have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its holdings in shares of Popular by 13.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 94,091 shares of the bank’s stock worth $3,832,000 after acquiring an additional 11,322 shares during the last quarter. SG Americas Securities LLC lifted its stake in Popular by 19.1% in the first quarter. SG Americas Securities LLC now owns 12,485 shares of the bank’s stock worth $509,000 after purchasing an additional 2,005 shares during the last quarter. Teachers Advisors LLC lifted its stake in Popular by 2.5% in the first quarter. Teachers Advisors LLC now owns 620,641 shares of the bank’s stock worth $25,279,000 after purchasing an additional 14,866 shares during the last quarter. Legal & General Group Plc bought a new stake in Popular in the first quarter worth $4,374,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Popular by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,630 shares of the bank’s stock worth $922,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 85.56% of the company’s stock.

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Several equities analysts recently issued reports on BPOP shares. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Popular in a report on Friday, July 7th. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of Popular in a research note on Friday, July 28th. ValuEngine downgraded shares of Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Barclays PLC reduced their target price on shares of Popular from $47.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Popular presently has a consensus rating of “Hold” and an average price target of $46.33.

Popular, Inc. (NASDAQ:BPOP) opened at 34.63 on Monday. The firm’s 50-day moving average is $36.24 and its 200-day moving average is $39.17. The stock has a market cap of $3.53 billion, a P/E ratio of 15.64 and a beta of 1.25. Popular, Inc. has a 52-week low of $32.04 and a 52-week high of $45.96.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Wednesday, September 13th. Popular’s dividend payout ratio is presently 45.05%.

Popular Profile

Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)




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