Schwab Charles Investment Management Inc. reduced its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 606,352 shares of the bank’s stock after selling 18,187 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.59% of Popular worth $25,291,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in BPOP. ProShare Advisors LLC raised its holdings in shares of Popular by 6.8% during the first quarter. ProShare Advisors LLC now owns 17,733 shares of the bank’s stock worth $722,000 after acquiring an additional 1,134 shares during the period. US Bancorp DE grew its position in Popular by 3.2% in the first quarter. US Bancorp DE now owns 14,031 shares of the bank’s stock valued at $572,000 after purchasing an additional 440 shares in the last quarter. Bank of New York Mellon Corp grew its position in Popular by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 558,663 shares of the bank’s stock valued at $22,756,000 after purchasing an additional 7,375 shares in the last quarter. Suntrust Banks Inc. grew its position in Popular by 0.9% in the first quarter. Suntrust Banks Inc. now owns 16,965 shares of the bank’s stock valued at $690,000 after purchasing an additional 153 shares in the last quarter. Finally, Swiss National Bank grew its position in Popular by 0.5% in the first quarter. Swiss National Bank now owns 171,500 shares of the bank’s stock valued at $6,985,000 after purchasing an additional 900 shares in the last quarter. 85.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $51.00 price objective on shares of Popular in a research report on Thursday, June 29th. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Finally, Keefe, Bruyette & Woods set a $46.00 price objective on shares of Popular and gave the stock a “hold” rating in a research note on Monday, June 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.50.
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Shares of Popular, Inc. (NASDAQ BPOP) opened at 39.81 on Friday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 17.98 and a beta of 1.29. Popular, Inc. has a 12-month low of $35.08 and a 12-month high of $45.96. The firm’s 50-day moving average is $40.19 and its 200-day moving average is $40.22.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The firm had revenue of $491.27 million for the quarter, compared to the consensus estimate of $500.66 million. During the same period last year, the firm posted $0.85 earnings per share. On average, equities analysts predict that Popular, Inc. will post $3.84 EPS for the current year.
The business also recently declared 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. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 13th. Popular’s dividend payout ratio (DPR) is currently 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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