Basswood Capital Management L.L.C. cut its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,377 shares of the bank's stock after selling 97,103 shares during the period. Basswood Capital Management L.L.C. owned about 0.21% of Popular worth $14,144,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in shares of Popular by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after buying an additional 112 shares during the period. Picton Mahoney Asset Management raised its stake in Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Arizona State Retirement System lifted its position in Popular by 0.7% during the 4th quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock worth $1,971,000 after acquiring an additional 143 shares during the period. Treasurer of the State of North Carolina lifted its position in Popular by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock worth $2,949,000 after acquiring an additional 190 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in Popular by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock valued at $2,888,000 after purchasing an additional 214 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.
Popular Trading Down 0.2 %
BPOP traded down $0.18 on Friday, reaching $100.31. The stock had a trading volume of 185,492 shares, compared to its average volume of 492,695. The business's 50-day moving average price is $90.56 and its two-hundred day moving average price is $95.15. The company has a market cap of $6.96 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $106.81.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. The company had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. Popular's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. As a group, analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.79%. Popular's payout ratio is presently 28.90%.
Analysts Set New Price Targets
A number of research firms recently commented on BPOP. Barclays reaffirmed an "overweight" rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. StockNews.com downgraded shares of Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Royal Bank of Canada boosted their target price 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. Finally, Hovde Group cut 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 analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Popular presently has an average rating of "Moderate Buy" and a consensus price target of $111.14.
Get Our Latest Report on Popular
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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