QS Investors LLC Acquires 2,101 Shares of Popular, Inc. (NASDAQ:BPOP)

QS Investors LLC raised its holdings in Popular, Inc. (NASDAQ:BPOP) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,895 shares of the bank’s stock after purchasing an additional 2,101 shares during the quarter. QS Investors LLC’s holdings in Popular were worth $2,694,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. LPL Financial LLC raised its position in shares of Popular by 2.5% during the second quarter. LPL Financial LLC now owns 5,489 shares of the bank’s stock worth $412,000 after acquiring an additional 135 shares during the last quarter. Origin Asset Management LLP bought a new stake in shares of Popular during the second quarter worth $299,000. Bridgewater Associates LP raised its position in shares of Popular by 3.3% during the second quarter. Bridgewater Associates LP now owns 26,317 shares of the bank’s stock worth $1,975,000 after acquiring an additional 848 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Popular during the second quarter worth $2,689,000. Finally, AXA S.A. raised its position in shares of Popular by 31.3% during the second quarter. AXA S.A. now owns 159,000 shares of the bank’s stock worth $11,933,000 after acquiring an additional 37,900 shares during the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.

In other Popular news, Director Carlos Unanue sold 6,681 shares of the business’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $77.33, for a total value of $516,641.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Javier D. Ferrer sold 9,500 shares of the company’s stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $76.30, for a total value of $724,850.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,352 shares of company stock valued at $3,157,225. Insiders own 1.69% of the company’s stock.

Separately, Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Monday, October 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $79.67.

NASDAQ BPOP opened at $79.00 on Thursday. The stock has a 50-day simple moving average of $76.19 and a 200 day simple moving average of $75.68. The company has a market capitalization of $6.37 billion, a PE ratio of 8.00 and a beta of 1.20. Popular, Inc. has a 12 month low of $38.05 and a 12 month high of $83.72.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, July 22nd. The bank reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.63. The business had revenue of $642.34 million during the quarter, compared to the consensus estimate of $621.34 million. Popular had a return on equity of 13.99% and a net margin of 30.89%. During the same quarter in the prior year, the company posted $1.49 earnings per share. On average, equities research analysts predict that Popular, Inc. will post 10.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 10th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 9th. This represents a $1.80 dividend on an annualized basis and a yield of 2.28%. Popular’s dividend payout ratio is presently 30.66%.

Popular Profile

Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico and Popular U.S. The Banco Popular de Puerto Rico segment includes retail, mortgage and commercial banking services.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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