Bank of Montreal Can Has $371,000 Stake in Popular, Inc. (BPOP)
Bank of Montreal Can lowered its stake in Popular, Inc. (NASDAQ:BPOP) by 64.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,895 shares of the bank’s stock after selling 16,344 shares during the period. Bank of Montreal Can’s holdings in Popular were worth $371,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in shares of Popular by 17.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,251 shares of the bank’s stock worth $295,000 after buying an additional 1,070 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Popular by 16.9% in the first quarter. First Mercantile Trust Co. now owns 10,649 shares of the bank’s stock worth $434,000 after buying an additional 1,539 shares in the last quarter. Heartland Advisors Inc. raised its stake in shares of 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 in the last quarter. SG Americas Securities LLC raised its stake in shares of Popular by 19.1% in the first quarter. SG Americas Securities LLC now owns 12,485 shares of the bank’s stock worth $509,000 after buying an additional 2,005 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Popular during the first quarter worth $511,000. Institutional investors and hedge funds own 85.05% of the company’s stock.
Shares of Popular, Inc. (NASDAQ BPOP) traded up 0.38% during trading on Wednesday, hitting $39.54. 49,627 shares of the stock were exchanged. The stock’s 50 day moving average price is $41.21 and its 200 day moving average price is $40.85. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 17.86 and a beta of 1.28. Popular, Inc. has a 52 week low of $35.08 and a 52 week high of $45.96.
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 company 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 period in the previous year, the firm earned $0.85 earnings per share. On average, equities analysts predict that Popular, Inc. will post $3.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, September 13th. Popular’s payout ratio is 45.05%.
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BPOP has been the topic of a number of research analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 target price on shares of Popular in a research report on Friday, July 28th. Morgan Stanley cut 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 report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, July 10th. Keefe, Bruyette & Woods set a $46.00 target price on shares of Popular and gave the company a “hold” rating in a research report on Monday, June 5th. Finally, BidaskClub upgraded shares of Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $47.83.
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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