Algert Global LLC Boosts Position in Popular, Inc. (NASDAQ:BPOP)

Algert Global LLC raised its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,661 shares of the bank's stock after purchasing an additional 5,497 shares during the period. Algert Global LLC owned 0.17% of Popular worth $11,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Popular during the 4th quarter worth about $27,000. Picton Mahoney Asset Management raised its holdings in Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 118 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Popular in the 3rd quarter valued at $81,000. Finally, R Squared Ltd purchased a new position in shares of Popular in the 4th quarter valued at $166,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Popular from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Hovde Group decreased their price objective on Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada raised their target price on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on shares of 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 price target (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.14.

Popular Trading Down 0.1 %

Shares of NASDAQ BPOP traded down $0.08 during midday trading on Friday, reaching $100.41. 168,966 shares of the stock were exchanged, compared to its average volume of 602,536. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $106.81. The stock has a 50 day moving average price of $90.56 and a 200-day moving average price of $95.15. The company has a market capitalization of $6.96 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.75 and a beta of 0.60.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. The business 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 business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 earnings per share. On average, analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.79%. Popular's payout ratio is 28.90%.

Popular Company Profile

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.