Invenomic Capital Management LP purchased a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 71,652 shares of the bank's stock, valued at approximately $6,740,000. Invenomic Capital Management LP owned 0.10% of Popular at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Popular by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock valued at $873,519,000 after acquiring an additional 56,222 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Popular by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after purchasing an additional 201,067 shares in the last quarter. Wellington Management Group LLP lifted its position in Popular by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock worth $179,505,000 after purchasing an additional 25,222 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Popular by 57.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock worth $133,446,000 after buying an additional 515,798 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Popular by 3.0% during the fourth quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after buying an additional 39,999 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Hovde Group reduced their price target on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. StockNews.com lowered Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their price objective on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Barclays reiterated an "overweight" rating and issued a $125.00 target price (up previously from $115.00) on shares of Popular in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $111.14.
View Our Latest Stock Report on Popular
Popular Trading Up 0.4%
BPOP traded up $0.39 during trading on Wednesday, reaching $104.46. 408,912 shares of the company's stock were exchanged, compared to its average volume of 497,845. Popular, Inc. has a one year low of $78.23 and a one year high of $106.81. The firm has a fifty day moving average price of $91.27 and a two-hundred day moving average price of $95.46. The stock has a market capitalization of $7.24 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. The company had revenue of $755.46 million during the quarter, compared to the consensus estimate of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.43 earnings per share. Sell-side analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.68%. Popular's dividend payout ratio (DPR) is currently 28.90%.
About Popular
(
Free Report)
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.
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