Sei Investments Co. reduced its position in shares of Popular, Inc. (NASDAQ:BPOP) by 2.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,746 shares of the bank’s stock after selling 360 shares during the period. Sei Investments Co.’s holdings in Popular were worth $560,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Suntrust Banks Inc. boosted its stake in Popular by 0.9% in the first quarter. Suntrust Banks Inc. now owns 16,965 shares of the bank’s stock worth $690,000 after buying an additional 153 shares during the last quarter. US Bancorp DE boosted its stake in Popular by 3.2% in the first quarter. US Bancorp DE now owns 14,031 shares of the bank’s stock worth $572,000 after buying an additional 440 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Popular by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 164,813 shares of the bank’s stock worth $7,222,000 after buying an additional 456 shares during the last quarter. Heartland Advisors Inc. boosted its stake in Popular by 4.9% in the first quarter. Heartland Advisors Inc. now owns 11,621 shares of the bank’s stock worth $473,000 after buying an additional 539 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in Popular by 7.5% in the fourth quarter. Trexquant Investment LP now owns 9,500 shares of the bank’s stock worth $416,000 after buying an additional 662 shares during the last quarter. 86.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Popular, Inc. (NASDAQ BPOP) opened at 39.07 on Thursday. The company has a market capitalization of $3.98 billion, a PE ratio of 18.26 and a beta of 1.32. Popular, Inc. has a 52 week low of $26.72 and a 52 week high of $45.96. The firm’s 50-day moving average is $39.18 and its 200 day moving average is $41.82.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, April 25th. The bank reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. Popular had a net margin of 11.34% and a return on equity of 6.94%. The business had revenue of $477.97 million during the quarter, compared to analysts’ expectations of $441.33 million. During the same quarter in the previous year, the company earned $0.81 EPS. On average, analysts anticipate that Popular, Inc. will post $3.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, June 7th. Popular’s dividend payout ratio is currently 46.95%.
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A number of research firms recently weighed in on BPOP. Morgan Stanley lowered their target price on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 6th. TheStreet raised shares of Popular from a “c+” rating to a “b” rating in a research note on Tuesday, April 25th. BidaskClub raised shares of Popular from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Keefe, Bruyette & Woods set a $46.00 target price on shares of Popular and gave the company a “hold” rating in a research note on Monday, April 3rd. Finally, Kepler Capital Markets reissued a “reduce” rating on shares of Popular in a research note on Wednesday, February 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Popular currently has a consensus rating of “Hold” and a consensus price target of $45.67.
In other Popular news, VP Jorge J. Garcia sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $38.15, for a total value of $152,600.00. Following the transaction, the vice president now directly owns 11,502 shares of the company’s stock, valued at approximately $438,801.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Eli Sepulveda sold 1,994 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $42.25, for a total transaction of $84,246.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,806 shares of company stock worth $932,921. Insiders own 1.27% of the company’s stock.
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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