QS Investors LLC lowered its position in shares of Popular, Inc. (NASDAQ:BPOP) by 88.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,816 shares of the bank’s stock after selling 51,084 shares during the quarter. QS Investors LLC’s holdings in Popular were worth $284,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Popular by 12.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock valued at $162,000 after acquiring an additional 423 shares during the period. ETRADE Capital Management LLC acquired a new position in Popular in the second quarter valued at about $204,000. M&T Bank Corp boosted its position in shares of Popular by 2.8% during the second quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock worth $241,000 after buying an additional 159 shares during the period. Quantitative Investment Management LLC acquired a new position in shares of Popular during the second quarter worth about $250,000. Finally, Trexquant Investment LP acquired a new position in shares of Popular during the second quarter worth about $263,000. Institutional investors and hedge funds own 85.92% of the company’s stock.
Several brokerages recently commented on BPOP. Zacks Investment Research cut Popular from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Barclays PLC raised Popular from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Thursday. ValuEngine upgraded Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 price objective on shares of Popular in a research note on Friday, July 28th. Finally, 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 research note on Friday, July 7th. 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 stock. Popular has a consensus rating of “Hold” and a consensus target price of $46.33.
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Shares of Popular, Inc. (BPOP) opened at 34.63 on Friday. Popular, Inc. has a 12-month low of $32.05 and a 12-month high of $45.96. The firm has a market cap of $3.53 billion, a P/E ratio of 15.64 and a beta of 1.25. The company’s 50 day moving average price is $36.24 and its 200 day moving average price is $39.17.
Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.92 by $0.02. The firm had revenue of $491.27 million during the quarter, compared to analyst estimates of $500.66 million. Popular had a net margin of 11.57% and a return on equity of 7.11%. During the same quarter in the previous year, the business posted $0.85 EPS. Equities research analysts forecast that Popular, Inc. will post $3.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. Popular’s dividend payout ratio (DPR) is presently 45.05%.
Popular Company 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.
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