Tower Research Capital LLC TRC lowered its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,440 shares of the bank's stock after selling 8,254 shares during the quarter. Tower Research Capital LLC TRC's holdings in Popular were worth $230,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BPOP. Vanguard Group Inc. boosted its stake in shares of Popular by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock worth $873,519,000 after buying an additional 56,222 shares during the last quarter. Wellington Management Group LLP grew its position in Popular by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock valued at $179,505,000 after buying an additional 25,222 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Popular by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock worth $133,446,000 after acquiring an additional 515,798 shares during the period. American Century Companies Inc. boosted its stake in shares of Popular by 3.0% during the 4th quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after acquiring an additional 39,999 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Popular by 53.8% during the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock valued at $123,496,000 after acquiring an additional 459,231 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Barclays restated an "overweight" rating and issued a $125.00 price objective (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Keefe, Bruyette & Woods upped their price objective 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. StockNews.com lowered shares of Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Hovde Group decreased their price target on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Royal Bank of Canada increased their target price on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Two research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $111.14.
Read Our Latest Stock Analysis on Popular
Popular Trading Down 0.2 %
BPOP stock traded down $0.18 during mid-day trading on Friday, reaching $100.31. The company's stock had a trading volume of 365,068 shares, compared to its average volume of 495,163. The company's 50 day moving average is $90.67 and its two-hundred day moving average is $95.19. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The stock has a market cap of $6.96 billion, a PE ratio of 11.72, a P/E/G ratio of 0.75 and a beta of 0.60.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 earnings per share. On average, analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.79%. Popular's payout ratio is 28.90%.
Popular Company Profile
(
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.
Further Reading
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