Caxton Associates LLP purchased a new stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,263 shares of the bank's stock, valued at approximately $763,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BPOP. Envestnet Asset Management Inc. raised its stake in Popular by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank's stock valued at $8,046,000 after purchasing an additional 8,262 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Popular by 164.7% during the 1st quarter. Cerity Partners LLC now owns 15,731 shares of the bank's stock worth $1,453,000 after purchasing an additional 9,788 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Popular by 50.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank's stock worth $1,335,000 after acquiring an additional 4,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Popular by 105.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank's stock worth $1,132,000 after buying an additional 6,281 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Popular by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock worth $398,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.
Popular Price Performance
Shares of BPOP traded down $1.33 during midday trading on Friday, reaching $123.47. The stock had a trading volume of 554,544 shares, compared to its average volume of 526,765. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $128.66. The company's fifty day simple moving average is $118.38 and its two-hundred day simple moving average is $104.74. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.65 and a beta of 0.68.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. The business had revenue of $800.03 million for the quarter, compared to analysts' expectations of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same quarter in the prior year, the firm posted $2.46 EPS. On average, sell-side 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 sep 25 dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.1328 per share. Popular's payout ratio is 29.07%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on BPOP. Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a report on Thursday, July 24th. Barclays increased their price objective on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their target price on Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Hovde Group reissued an "outperform" rating on shares of Popular in a report on Friday, August 29th. Finally, Citigroup upped their price objective on Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $128.88.
View Our Latest Research Report on BPOP
Insider Transactions at Popular
In other news, EVP Gilberto Monzon sold 18,001 shares of Popular stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the transaction, the executive vice president owned 24,773 shares in the company, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.09% of the stock is currently owned by 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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