Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 63.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,375 shares of the bank's stock after selling 7,439 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Popular were worth $411,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of Popular during the fourth quarter worth $27,000. Picton Mahoney Asset Management boosted its holdings in Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after buying an additional 118 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after buying an additional 218 shares during the period. R Squared Ltd acquired a new position in shares of Popular during the 4th quarter worth about $166,000. Finally, Yousif Capital Management LLC bought a new position in Popular during the 4th quarter worth approximately $202,000. Institutional investors own 87.27% of the company's stock.
Wall Street Analysts Forecast Growth
BPOP has been the subject of several recent analyst reports. StockNews.com downgraded shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada upped their price objective on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $110.00 to $100.00 in a report on Wednesday, April 9th. Barclays reissued an "overweight" rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Finally, Hovde Group dropped their price target on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $114.43.
Read Our Latest Research Report on BPOP
Popular Stock Performance
NASDAQ:BPOP opened at $104.79 on Friday. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $106.81. The company has a market cap of $7.27 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.75 and a beta of 0.60. The stock's 50-day simple moving average is $91.62 and its 200 day simple moving average is $95.56.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating 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 company had revenue of $755.46 million during the quarter, compared to the consensus estimate of $760.45 million. During the same quarter in the prior year, the firm posted $1.43 EPS. 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 fiscal year.
Popular Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, May 29th. Popular's dividend payout ratio (DPR) is presently 28.90%.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Popular, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Popular wasn't on the list.
While Popular currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
