Strs Ohio grew its holdings in shares of Popular Inc (NASDAQ:BPOP) by 24.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,599 shares of the bank’s stock after buying an additional 2,085 shares during the period. Strs Ohio’s holdings in Popular were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Allianz Asset Management GmbH bought a new stake in shares of Popular in the 1st quarter worth $240,000. State of Alaska Department of Revenue grew its stake in shares of Popular by 39.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 11,060 shares of the bank’s stock worth $500,000 after acquiring an additional 3,150 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Popular in the 2nd quarter worth $5,011,000. Fox Run Management L.L.C. grew its stake in shares of Popular by 21.3% in the 2nd quarter. Fox Run Management L.L.C. now owns 12,317 shares of the bank’s stock worth $557,000 after acquiring an additional 2,160 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Popular in the 2nd quarter worth $1,354,000. 87.38% of the stock is owned by institutional investors.
Shares of NASDAQ:BPOP opened at $56.01 on Friday. The stock has a market capitalization of $5.57 billion, a P/E ratio of 13.28 and a beta of 1.07. Popular Inc has a fifty-two week low of $32.33 and a fifty-two week high of $56.16.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.20. The company had revenue of $602.49 million for the quarter, compared to the consensus estimate of $586.10 million. Popular had a net margin of 16.32% and a return on equity of 8.17%. During the same period in the previous year, the firm earned $0.19 EPS. As a group, analysts predict that Popular Inc will post 4.89 earnings per share for the current fiscal year.
Several analysts have recently issued reports on BPOP shares. Sandler O’Neill reiterated a “buy” rating and issued a $58.00 target price on shares of Popular in a research note on Monday, July 23rd. Citigroup upped their target price on shares of Popular from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Morgan Stanley upped their target price on shares of Popular from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 31st. BidaskClub upgraded shares of Popular from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of Popular in a research note on Wednesday, July 25th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Popular currently has an average rating of “Buy” and an average target price of $54.88.
In related news, CEO Ignacio Alvarez sold 6,000 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $50.32, for a total value of $301,920.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.27% of the stock is currently owned by insiders.
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Popular Company Profile
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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