Voya Investment Management LLC increased its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 287.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,210 shares of the bank's stock after purchasing an additional 59,482 shares during the period. Voya Investment Management LLC owned 0.12% of Popular worth $7,409,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Popular during the first quarter worth $47,000. Versant Capital Management Inc grew its stake in shares of Popular by 589.9% during the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after purchasing an additional 702 shares in the last quarter. Quarry LP acquired a new position in shares of Popular during the first quarter worth $84,000. PNC Financial Services Group Inc. grew its stake in shares of Popular by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock worth $162,000 after purchasing an additional 438 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Popular during the first quarter worth $207,000. Institutional investors and hedge funds own 87.27% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently commented on BPOP. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Hovde Group reiterated an "outperform" rating on shares of Popular in a research note on Friday, August 29th. Zacks Research raised Popular from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Barclays lifted their target price on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their target price on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $128.88.
View Our Latest Report on BPOP
Insider Activity at Popular
In other news, EVP Gilberto Monzon sold 18,001 shares of the company's 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 sale, the executive vice president directly owned 24,773 shares of the company's stock, valued at approximately $3,083,495.31. This represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.23% of the company's stock.
Popular Price Performance
Shares of NASDAQ:BPOP traded up $0.17 on Friday, reaching $127.99. The company's stock had a trading volume of 1,066,634 shares, compared to its average volume of 571,806. The stock's 50-day moving average is $119.57 and its two-hundred day moving average is $105.79. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $128.79. The stock has a market capitalization of $8.65 billion, a P/E ratio of 12.40, a PEG ratio of 0.66 and a beta of 0.68.
Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The business had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. During the same period in the prior year, the company earned $2.46 earnings per share. Equities analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Announces Dividend
The firm also recently announced a sep 25 dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.1328 dividend. Popular's payout ratio is 29.07%.
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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