Los Angeles Capital Management & Equity Research Inc. grew its holdings in Popular, Inc. (NASDAQ:BPOP) by 121.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,090 shares of the bank’s stock after purchasing an additional 164,830 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.29% of Popular worth $12,517,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Popular by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock worth $63,098,000 after purchasing an additional 53,446 shares during the period. Cipher Capital LP increased its stake in Popular by 1.5% in the second quarter. Cipher Capital LP now owns 89,761 shares of the bank’s stock worth $3,744,000 after purchasing an additional 1,353 shares during the period. Swiss National Bank increased its stake in Popular by 1.3% in the second quarter. Swiss National Bank now owns 173,700 shares of the bank’s stock worth $7,245,000 after purchasing an additional 2,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Popular by 12.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock worth $162,000 after purchasing an additional 423 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in Popular in the second quarter worth $537,000. Institutional investors and hedge funds own 85.85% of the company’s stock.
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A number of analysts have weighed in on the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of Popular in a research note on Friday, July 28th. Zacks Investment Research downgraded Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. BidaskClub raised Popular from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $51.00 price target on shares of Popular in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $47.50.
Popular, Inc. (BPOP) traded up 0.37% during trading on Friday, hitting $40.71. The stock had a trading volume of 1,629,288 shares. Popular, Inc. has a one year low of $35.08 and a one year high of $45.96. The firm has a 50 day moving average of $40.34 and a 200-day moving average of $40.34. The company has a market cap of $4.15 billion, a P/E ratio of 18.39 and a beta of 1.29.
Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm had revenue of $491.27 million for the quarter, compared to the consensus estimate of $500.66 million. Popular had a return on equity of 7.11% and a net margin of 11.57%. During the same quarter in the previous year, the business earned $0.85 EPS. Equities analysts anticipate that Popular, Inc. will post $3.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. Popular’s dividend payout ratio is presently 45.05%.
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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