743K shares changed hands by the end of trading on Tuesday. Overall, volume was up 83.95% over the stocks normal daily volume.
Traders are a little more bearish on shares of Popular, Inc. lately if you take into consideration the increase in short interest. The firm saw a rise in short interest from September 15, 2017 to September 29, 2017 of 105.66%. Short interest increased from 1,389,308 to 2,857,225 over that timeframe. With short interest at 2,857,225 and short average daily volume at 1,832,902, days to cover is 2.0 and the short interest percentage is 0.03% as of September 29.
These firms have modified their investment in BPOP. As of the end of the quarter Meeder Asset Management Inc had bought 3,126 shares growing its holdings by 587.6%. The value of the company’s investment in Popular, Inc. increased from $22,000 to $131,000 a change of $109,000 quarter to quarter. Shell Asset Management CO cut its stake by selling 600 shares a decrease of 2.3%. Shell Asset Management CO claims 25,774 shares worth $926,000. The value of the position overall is down by 15.8%.
Denali Advisors LLC grew its holdings by buying 20,500 shares an increase of 72.7% from 06/30/2017 to 09/30/2017. Denali Advisors LLC currently owns 48,700 shares valued at $1,750,000. The total value of its holdings increased 48.8%. As of quarter end Diamond Hill Capital Management Inc had disposed of a total of 66,856 shares trimming its stake by 1.6%. The value of the investment in BPOP went from $175,060,000 to $148,440,000 a change of 15.2% for the reporting period.
On October 11 Barclays maintained a company rating of “Equal-Weight” but lowered the price target to $40.00 from $43.00.
The company is so far trading down since yesterday’s close of 32.48. Popular, Inc. recently announced a dividend that was paid on Mon Oct 2, 2017. The dividend was $0.250 per share for the quarter which is $1.00 annualized. This dividend represents a yield of $3.08. The ex-dividend date was set for Wednesday the 13th of September 2017.
Company shares are trading at $32.29 which is quite a bit lower than the 50 day moving average of $36.85 and which is significantly below the 200 day moving average of $39.39. The 50 day moving average was down $-4.56 whereas the 200 day moving average was down $-7.10 or -18.03%.
The company’s P/E ratio is 14.58 and market cap is 3.29B. In the latest earnings report the EPS was $2.21 and is expected to be $3.76 for the current year with 102,010,000 shares outstanding. Analysts expect next quarter’s EPS will be $1.00 and the next full year EPS is anticipated to be $4.19.
Popular, Inc. (Popular), launched on November 20, 1984, 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..