Invictus RG bought a new position in Popular Inc (NASDAQ:BPOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,421 shares of the bank’s stock, valued at approximately $228,000.
A number of other hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Popular by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after acquiring an additional 200 shares in the last quarter. Stevens Capital Management LP increased its holdings in shares of Popular by 30.9% during the third quarter. Stevens Capital Management LP now owns 63,503 shares of the bank’s stock valued at $2,282,000 after acquiring an additional 14,975 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Popular during the third quarter valued at approximately $9,497,000. Prudential Financial Inc. increased its holdings in shares of Popular by 63.9% during the third quarter. Prudential Financial Inc. now owns 903,755 shares of the bank’s stock valued at $32,480,000 after acquiring an additional 352,420 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Popular by 11.2% during the third quarter. Boston Partners now owns 334,913 shares of the bank’s stock valued at $12,036,000 after acquiring an additional 33,710 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.
Several research firms have recently commented on BPOP. BidaskClub upgraded Popular from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, February 21st. Sandler O’Neill set a $48.00 price objective on Popular and gave the company a “buy” rating in a report on Thursday, February 15th. Keefe, Bruyette & Woods set a $49.00 price objective on Popular and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Morgan Stanley boosted their price objective on Popular from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $48.31.
Popular Inc (NASDAQ BPOP) opened at $44.61 on Friday. The stock has a market capitalization of $4,590.00, a P/E ratio of 16.71 and a beta of 1.10. Popular Inc has a 1 year low of $32.04 and a 1 year high of $46.83.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.22. The business had revenue of $473.35 million for the quarter. Popular had a return on equity of 5.29% and a net margin of 4.89%. analysts predict that Popular Inc will post 3.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, March 15th. Popular’s dividend payout ratio (DPR) is presently 37.45%.
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Popular Company Profile
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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