Scientech Research LLC bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,773 shares of the bank's stock, valued at approximately $903,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Popular by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank's stock worth $329,674,000 after acquiring an additional 34,322 shares during the period. Wellington Management Group LLP grew its holdings in shares of Popular by 1.7% during the 1st quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank's stock worth $179,243,000 after acquiring an additional 32,078 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Popular by 4.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,485,141 shares of the bank's stock worth $137,182,000 after acquiring an additional 66,412 shares during the period. AQR Capital Management LLC grew its holdings in shares of Popular by 52.8% during the 1st quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank's stock worth $129,722,000 after acquiring an additional 495,325 shares during the period. Finally, Earnest Partners LLC grew its holdings in shares of Popular by 3.5% during the 1st quarter. Earnest Partners LLC now owns 725,105 shares of the bank's stock worth $66,978,000 after acquiring an additional 24,759 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.
Popular Price Performance
Shares of Popular stock traded down $1.33 during trading on Friday, reaching $123.47. 554,544 shares of the stock traded hands, compared to its average volume of 526,765. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.65 and a beta of 0.68. The business has a fifty day simple moving average of $118.38 and a two-hundred day simple moving average of $104.71. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $128.66.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. The firm had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same quarter last year, the business posted $2.46 earnings per share. On average, research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Dividend Announcement
The firm also recently declared 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 payout ratio is 29.07%.
Analyst Upgrades and Downgrades
BPOP has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Barclays increased their price target on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a report on Thursday, July 24th. Keefe, Bruyette & Woods raised their target price on Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Zacks Research raised Popular from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $128.88.
Get Our Latest Stock Report on BPOP
Insider Activity at Popular
In related news, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total value 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 approximately $3,083,495.31. This trade represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.09% of the company's stock.
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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