BlackRock Inc. cut its stake in shares of Popular Inc (NASDAQ:BPOP) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,853,579 shares of the bank’s stock after selling 75,414 shares during the quarter. BlackRock Inc. owned about 4.75% of Popular worth $202,004,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Polaris Capital Management LLC increased its holdings in shares of Popular by 26.8% during the first quarter. Polaris Capital Management LLC now owns 4,595,607 shares of the bank’s stock valued at $191,269,000 after acquiring an additional 972,400 shares in the last quarter. Investec Asset Management LTD increased its holdings in shares of Popular by 9.9% during the fourth quarter. Investec Asset Management LTD now owns 4,001,168 shares of the bank’s stock valued at $142,001,000 after acquiring an additional 361,030 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Popular by 2.0% during the first quarter. Frontier Capital Management Co. LLC now owns 2,647,771 shares of the bank’s stock valued at $110,200,000 after acquiring an additional 51,170 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Popular by 1,878.6% during the fourth quarter. Deutsche Bank AG now owns 1,128,779 shares of the bank’s stock valued at $40,055,000 after acquiring an additional 1,071,729 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Popular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 923,536 shares of the bank’s stock valued at $32,776,000 after acquiring an additional 9,135 shares in the last quarter. Hedge funds and other institutional investors own 89.84% of the company’s stock.
Popular opened at $46.44 on Tuesday, Marketbeat reports. Popular Inc has a one year low of $32.04 and a one year high of $48.17. The firm has a market cap of $4.75 billion, a P/E ratio of 17.28 and a beta of 1.07.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, April 24th. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.76 by $0.13. Popular had a return on equity of 5.29% and a net margin of 4.74%. The company had revenue of $506.54 million for the quarter, compared to analysts’ expectations of $497.70 million. During the same period last year, the firm posted $0.89 earnings per share. research analysts predict that Popular Inc will post 4.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Tuesday, May 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.15%. Popular’s dividend payout ratio (DPR) is presently 37.31%.
Several equities analysts have recently weighed in on BPOP shares. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, February 21st. BidaskClub upgraded Popular from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. BTIG Research restated a “buy” rating and set a $46.00 price target on shares of Popular in a report on Wednesday, April 18th. Keefe, Bruyette & Woods restated a “buy” rating and set a $51.00 price target on shares of Popular in a report on Wednesday, April 25th. Finally, Barclays raised their price target on Popular from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, April 25th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $50.06.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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