AQR Capital Management LLC raised its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 937,274 shares of the bank's stock after purchasing an additional 24,842 shares during the quarter. AQR Capital Management LLC owned 1.31% of Popular worth $88,160,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new position in shares of Popular during the fourth quarter valued at approximately $27,000. Picton Mahoney Asset Management raised its holdings in shares of 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 during the last quarter. Smartleaf Asset Management LLC lifted 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 during the period. Wilmington Savings Fund Society FSB acquired a new stake in Popular during the third quarter worth about $81,000. Finally, R Squared Ltd acquired a new position in Popular in the fourth quarter valued at approximately $166,000. Institutional investors own 87.27% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Barclays reaffirmed an "overweight" rating and issued a $125.00 price target (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lifted their target price on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. StockNews.com downgraded Popular from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Hovde Group dropped their price objective on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Popular presently has an average rating of "Moderate Buy" and a consensus price target of $111.14.
Get Our Latest Report on Popular
Popular Price Performance
NASDAQ:BPOP traded down $0.25 on Tuesday, reaching $99.24. The stock had a trading volume of 145,969 shares, compared to its average volume of 489,286. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 0.75 and a beta of 0.60. The firm's fifty day moving average is $90.57 and its two-hundred day moving average is $95.08. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $106.81.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. Popular had a net margin of 14.15% and a return on equity of 11.89%. The firm had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. During the same period in the prior year, the company earned $1.43 EPS. The firm's revenue was up 6.0% on a year-over-year basis. As a group, research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Tuesday, March 18th. Popular's dividend payout ratio is presently 28.90%.
Insider Buying and Selling at Popular
In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.09% of the stock is owned by corporate insiders.
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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