Fmr LLC Reduces Position in Popular, Inc. (BPOP)
Fmr LLC decreased its holdings in Popular, Inc. (NASDAQ:BPOP) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,568,982 shares of the bank’s stock after selling 81,483 shares during the quarter. Fmr LLC owned 4.48% of Popular worth $190,572,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of BPOP. Morgan Stanley grew its position in Popular by 18.2% during the first quarter. Morgan Stanley now owns 567,202 shares of the bank’s stock valued at $23,102,000 after buying an additional 87,306 shares during the period. JPMorgan Chase & Co. increased its holdings in Popular by 3.7% during the second quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock valued at $63,098,000 after buying an additional 53,446 shares during the last quarter. Prudential Financial Inc. increased its holdings in Popular by 36.1% during the second quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock valued at $22,996,000 after buying an additional 146,370 shares during the last quarter. Aperio Group LLC increased its holdings in Popular by 0.4% during the second quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock valued at $4,316,000 after buying an additional 380 shares during the last quarter. Finally, Royce & Associates LP raised its position in Popular by 35.1% in the second quarter. Royce & Associates LP now owns 223,300 shares of the bank’s stock worth $9,314,000 after acquiring an additional 58,000 shares during the period. 85.84% of the stock is currently owned by institutional investors.
BPOP has been the topic of several analyst reports. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Morgan Stanley cut their price objective on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 6th. BidaskClub upgraded Popular from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Royal Bank Of Canada restated a “buy” rating and issued a $51.00 price objective on shares of Popular in a research note on Thursday, June 29th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $53.00 target price on shares of Popular in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.50.
Popular, Inc. (NASDAQ:BPOP) opened at 35.16 on Wednesday. Popular, Inc. has a 52-week low of $34.47 and a 52-week high of $45.96. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.88 and a beta of 1.25. The firm has a 50 day moving average of $39.13 and a 200-day moving average of $39.94.
Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $491.27 million for the quarter, compared to the consensus estimate of $500.66 million. Popular had a return on equity of 7.11% and a net margin of 11.57%. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities analysts expect that Popular, Inc. will post $3.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.84%. The ex-dividend date was Wednesday, September 13th. Popular’s dividend payout ratio is currently 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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