Ameriprise Financial Inc. reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,447,685 shares of the bank's stock after selling 7,340 shares during the period. Ameriprise Financial Inc. owned about 2.03% of Popular worth $136,180,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Popular by 8.5% during the third quarter. Barclays PLC now owns 60,099 shares of the bank's stock worth $6,024,000 after buying an additional 4,699 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Popular during the 3rd quarter worth approximately $81,000. Franklin Resources Inc. increased its position in shares of Popular by 304.3% in the 3rd quarter. Franklin Resources Inc. now owns 99,861 shares of the bank's stock valued at $10,042,000 after purchasing an additional 75,164 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after purchasing an additional 71,782 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Popular by 1.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 74,723 shares of the bank's stock valued at $7,028,000 after purchasing an additional 948 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.
Popular Stock Performance
Shares of BPOP opened at $99.03 on Thursday. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The firm has a 50-day simple moving average of $90.52 and a 200-day simple moving average of $95.13. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60.
Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.
Popular Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, March 18th. Popular's dividend payout ratio (DPR) is presently 28.90%.
Analyst Ratings Changes
BPOP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Hovde Group decreased their target price on Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company upgraded shares of Popular from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Barclays restated an "overweight" rating and issued a $125.00 target price (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Finally, Royal Bank of Canada lifted their price target on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Popular has an average rating of "Moderate Buy" and a consensus target price of $111.14.
View Our Latest Stock Analysis on BPOP
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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