Popular, Inc. (BPOP) Stake Increased by Investec Asset Management LTD
Investec Asset Management LTD lifted its position in shares of Popular, Inc. (NASDAQ:BPOP) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 983,590 shares of the bank’s stock after buying an additional 32,535 shares during the period. Investec Asset Management LTD owned approximately 0.96% of Popular worth $41,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Popular by 12.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock worth $162,000 after buying an additional 423 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Popular during the 2nd quarter worth approximately $263,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Popular by 17.3% during the 1st 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 during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Popular by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock worth $347,000 after buying an additional 128 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Popular during the 1st quarter worth approximately $511,000. Institutional investors and hedge funds own 85.84% of the company’s stock.
A number of brokerages have recently issued reports on BPOP. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday. Piper Jaffray Companies restated a “buy” rating and set a $53.00 price target on shares of Popular in a report on Friday, July 28th. Morgan Stanley restated an “equal weight” rating and set a $43.00 price target (up previously from $42.00) on shares of Popular in a report on Friday, July 7th. BidaskClub upgraded shares of Popular from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $51.00 price target on shares of Popular in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned 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) traded down 0.52% during trading on Monday, hitting $40.50. 163,860 shares of the company were exchanged. Popular, Inc. has a 12 month low of $35.08 and a 12 month high of $45.96. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 18.29 and a beta of 1.29. The company has a 50-day moving average of $40.34 and a 200-day moving average of $40.34.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The firm had revenue of $491.27 million during the quarter, compared to analyst estimates of $500.66 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. Analysts forecast that Popular, Inc. will post $3.84 EPS for the current year.
The firm 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. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 annualized dividend and a yield of 2.46%. Popular’s dividend payout ratio is currently 45.05%.
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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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