QS Investors LLC trimmed its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 88.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,816 shares of the bank’s stock after selling 51,084 shares during the period. QS Investors LLC’s holdings in Popular were worth $284,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Popular by 12.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock valued at $162,000 after purchasing an additional 423 shares during the period. ETRADE Capital Management LLC acquired a new position in shares of Popular during the second quarter valued at $204,000. M&T Bank Corp increased its holdings 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 valued at $241,000 after purchasing an additional 159 shares during the period. Quantitative Investment Management LLC acquired a new position in shares of Popular during the second quarter valued at $250,000. Finally, Trexquant Investment LP acquired a new position in shares of Popular during the second quarter valued at $263,000. 85.84% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on BPOP shares. Zacks Investment Research lowered Popular from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. BidaskClub raised Popular from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $51.00 target price on shares of Popular in a report on Thursday, June 29th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $53.00 target price on shares of Popular in a report on Friday, July 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price (up from $42.00) on shares of Popular in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $46.33.
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Popular, Inc. (NASDAQ:BPOP) opened at 32.49 on Friday. Popular, Inc. has a 12-month low of $32.04 and a 12-month high of $45.96. The company’s 50-day moving average price is $37.06 and its 200-day moving average price is $39.45. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 14.67 and a beta of 1.25.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.02. Popular had a return on equity of 7.11% and a net margin of 11.57%. The business had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Equities analysts expect that Popular, Inc. will post $3.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Wednesday, September 13th. Popular’s dividend payout ratio (DPR) is presently 45.05%.
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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