Frontier Capital Management Co. LLC Acquires 23,214 Shares of Popular, Inc. (NASDAQ:BPOP)

Frontier Capital Management Co. LLC lifted its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 988,777 shares of the bank's stock after acquiring an additional 23,214 shares during the period. Popular makes up approximately 0.9% of Frontier Capital Management Co. LLC's investment portfolio, making the stock its 17th largest position. Frontier Capital Management Co. LLC owned about 1.39% of Popular worth $93,004,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Barclays PLC grew its stake in Popular by 8.5% during the third quarter. Barclays PLC now owns 60,099 shares of the bank's stock worth $6,024,000 after purchasing an additional 4,699 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Popular in the 3rd quarter worth $81,000. Franklin Resources Inc. raised its position in Popular by 304.3% in the third quarter. Franklin Resources Inc. now owns 99,861 shares of the bank's stock worth $10,042,000 after acquiring an additional 75,164 shares during the period. Principal Financial Group Inc. increased its holdings in Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock worth $105,769,000 after acquiring an additional 71,782 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Popular by 1.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 74,723 shares of the bank's stock worth $7,028,000 after acquiring an additional 948 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BPOP shares. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods upped their target price on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Barclays reaffirmed an "overweight" rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Royal Bank of Canada upped their target price on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, StockNews.com cut shares of Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $111.14.

Popular Price Performance

Shares of BPOP stock traded down $0.18 during trading hours on Friday, hitting $100.31. The stock had a trading volume of 365,068 shares, compared to its average volume of 495,163. The firm has a market capitalization of $6.96 billion, a PE ratio of 11.72, a PEG ratio of 0.75 and a beta of 0.60. The stock's 50 day moving average is $90.67 and its 200 day moving average is $95.19. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. During the same period in the prior year, the business posted $1.43 earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, May 29th. Popular's dividend payout ratio is currently 28.90%.

Popular Profile

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.