California Public Employees Retirement System lessened its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 327,800 shares of the bank’s stock after selling 33,600 shares during the quarter. California Public Employees Retirement System owned approximately 0.32% of Popular worth $13,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ETRADE Capital Management LLC acquired a new stake in Popular during the 2nd quarter worth $204,000. Citigroup Inc. boosted its stake in Popular by 635.7% during the 2nd quarter. Citigroup Inc. now owns 86,857 shares of the bank’s stock worth $3,622,000 after purchasing an additional 103,072 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Popular by 7.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 100,769 shares of the bank’s stock worth $4,203,000 after purchasing an additional 6,678 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in shares of Popular during the 2nd quarter valued at about $250,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Popular during the 2nd quarter valued at about $1,193,000. 85.84% of the stock is currently owned by institutional investors.

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Several research analysts have recently weighed in on BPOP shares. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub raised shares of Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. Royal Bank Of Canada reissued a “buy” rating and set a $51.00 price target on shares of Popular in a research report on Thursday, June 29th. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 price target on shares of Popular in a research report on Friday, July 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.50.

Popular, Inc. (BPOP) opened at 34.73 on Thursday. The stock’s 50 day moving average is $38.96 and its 200 day moving average is $39.91. The firm has a market cap of $3.54 billion, a PE ratio of 15.69 and a beta of 1.25. Popular, Inc. has a 12 month low of $34.45 and a 12 month 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, beating analysts’ consensus estimates of $0.92 by $0.02. The business had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. Popular had a return on equity of 7.11% and a net margin of 11.57%. During the same quarter last year, the company earned $0.85 earnings per share. On average, equities analysts forecast that Popular, Inc. will post $3.79 earnings per share for the current year.

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, September 13th. Popular’s payout ratio is currently 45.05%.

Popular 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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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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