First Mercantile Trust Co. decreased its stake in shares of Popular Inc. (NASDAQ:BPOP) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,505 shares of the company’s stock after selling 734 shares during the period. First Mercantile Trust Co.’s holdings in Popular were worth $308,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. PineBridge Investments L.P. increased its position in shares of Popular by 9.6% in the second quarter. PineBridge Investments L.P. now owns 128,425 shares of the company’s stock worth $3,763,000 after buying an additional 11,265 shares during the period. Vanguard Group Inc. increased its position in shares of Popular by 7.2% in the second quarter. Vanguard Group Inc. now owns 8,816,983 shares of the company’s stock worth $258,337,000 after buying an additional 595,934 shares during the period. Prudential Financial Inc. acquired a new position in shares of Popular during the second quarter worth approximately $222,000. AJO LP increased its position in shares of Popular by 1,063.8% in the second quarter. AJO LP now owns 87,879 shares of the company’s stock worth $2,575,000 after buying an additional 80,328 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Popular by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,446,248 shares of the company’s stock worth $100,970,000 after buying an additional 556,697 shares during the period. 84.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Popular Inc. (NASDAQ:BPOP) opened at 38.22 on Friday. The stock’s 50 day moving average is $38.42 and its 200-day moving average is $32.16. Popular Inc. has a one year low of $22.40 and a one year high of $39.88. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 10.02 and a beta of 1.91.
Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. Popular had a net margin of 18.69% and a return on equity of 7.06%. During the same quarter in the previous year, the company posted $5.79 earnings per share. On average, equities research analysts predict that Popular Inc. will post $3.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. Popular’s payout ratio is currently 15.79%.
A number of equities analysts recently commented on the stock. Barclays PLC boosted their price objective on shares of Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Zacks Investment Research raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. BTIG Research reissued a “buy” rating and issued a $41.00 price objective on shares of Popular in a research note on Tuesday, July 12th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $48.00 price objective on shares of Popular in a research note on Friday, August 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Popular currently has an average rating of “Buy” and an average target price of $37.29.
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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