Popular Inc (NASDAQ:BPOP) Stock Position Raised by Rhumbline Advisers
Rhumbline Advisers lifted its stake in shares of Popular Inc (NASDAQ:BPOP) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,172 shares of the bank’s stock after acquiring an additional 1,629 shares during the quarter. Rhumbline Advisers’ holdings in Popular were worth $4,173,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in shares of Popular during the 2nd quarter worth $29,000. Nisa Investment Advisors LLC boosted its position in shares of Popular by 7.7% in the third quarter. Nisa Investment Advisors LLC now owns 2,800 shares of the bank’s stock worth $151,000 after buying an additional 200 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Popular in the second quarter worth $188,000. CIBC Asset Management Inc acquired a new stake in shares of Popular in the second quarter worth $206,000. Finally, LPL Financial LLC acquired a new stake in shares of Popular in the second quarter worth $285,000. 87.40% of the stock is owned by institutional investors and hedge funds.
Shares of Popular stock opened at $55.81 on Friday. The stock has a market cap of $5.43 billion, a PE ratio of 11.70 and a beta of 1.19. The business has a fifty day simple moving average of $54.65 and a 200-day simple moving average of $54.51. Popular Inc has a 12 month low of $44.22 and a 12 month high of $58.99.
In related news, EVP Eduardo J. Negron sold 1,371 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.51, for a total transaction of $76,104.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joaquin E. Bacardi III sold 7,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.00, for a total value of $385,000.00. Following the sale, the director now owns 29,722 shares of the company’s stock, valued at $1,634,710. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,199 shares of company stock valued at $1,072,976. 1.33% of the stock is owned by corporate insiders.
Several analysts have recently commented on BPOP shares. BTIG Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Popular in a research report on Thursday, July 25th. Zacks Investment Research cut Popular from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. ValuEngine cut Popular from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, BidaskClub raised Popular from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $63.00.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. 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, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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