Harbor Capital Advisors Inc. lessened its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 24.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,666 shares of the bank's stock after selling 22,933 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.10% of Popular worth $7,898,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Popular in the first quarter valued at approximately $47,000. Versant Capital Management Inc boosted its holdings in Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after acquiring an additional 702 shares during the last quarter. Quarry LP bought a new position in shares of Popular during the 1st quarter worth approximately $84,000. PNC Financial Services Group Inc. boosted its holdings in shares of Popular by 33.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock worth $162,000 after buying an additional 438 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Popular during the 1st quarter worth approximately $207,000. Institutional investors and hedge funds own 87.27% of the company's stock.
Popular Stock Performance
Shares of BPOP opened at $123.91 on Tuesday. The business has a 50-day moving average of $118.59 and a 200 day moving average of $104.93. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $128.66. The firm has a market cap of $8.37 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 0.64 and a beta of 0.68.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The company had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. During the same quarter last year, the firm posted $2.46 EPS. As a group, research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Announces Dividend
The company also recently disclosed a sep 25 dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.1328 dividend. Popular's dividend payout ratio (DPR) is currently 29.07%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on BPOP shares. Zacks Research upgraded Popular from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Hovde Group restated an "outperform" rating on shares of Popular in a report on Friday, August 29th. Wells Fargo & Company increased their price target on Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price target on Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $128.88.
View Our Latest Analysis on Popular
Insiders Place Their Bets
In other Popular news, EVP Gilberto Monzon sold 18,001 shares of Popular stock in a transaction dated 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 completion of the transaction, the executive vice president owned 24,773 shares of the company's stock, valued at $3,083,495.31. The trade was a 42.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is 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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