Vanguard Group Inc. raised its stake in shares of Popular Inc. (NASDAQ:BPOP) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,816,983 shares of the company’s stock after buying an additional 595,934 shares during the period. Vanguard Group Inc. owned approximately 8.50% of Popular worth $258,337,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of BPOP. Wellington Management Group LLP raised its position in shares of Popular by 0.4% in the first quarter. Wellington Management Group LLP now owns 2,086,463 shares of the company’s stock worth $59,694,000 after buying an additional 9,249 shares during the period. I.G. Investment Management LTD. raised its position in shares of Popular by 9.4% in the second quarter. I.G. Investment Management LTD. now owns 14,971 shares of the company’s stock worth $439,000 after buying an additional 1,282 shares during the period. Price Michael F raised its position in shares of Popular by 8.8% in the first quarter. Price Michael F now owns 310,000 shares of the company’s stock worth $8,869,000 after buying an additional 25,000 shares during the period. Babson Capital Management LLC purchased a new position in shares of Popular during the first quarter worth about $1,176,000. Finally, Credit Agricole S A raised its position in shares of Popular by 900.0% in the first quarter. Credit Agricole S A now owns 118,200 shares of the company’s stock worth $3,382,000 after buying an additional 106,380 shares during the period. Hedge funds and other institutional investors own 84.10% of the company’s stock.
Shares of Popular Inc. (NASDAQ:BPOP) opened at 38.38 on Wednesday. The firm has a market capitalization of $3.98 billion, a PE ratio of 10.06 and a beta of 1.73. The stock’s 50 day moving average price is $38.65 and its 200-day moving average price is $32.71. Popular Inc. has a 52-week low of $22.40 and a 52-week high of $39.88.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the 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 earned $5.79 earnings per share. Equities research analysts anticipate that Popular Inc. will post $3.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.60 annualized dividend and a yield of 1.56%. Popular’s payout ratio is currently 15.79%.
BPOP has been the subject of a number of research analyst reports. TheStreet upgraded Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. BTIG Research reaffirmed a “buy” rating and set a $41.00 price target on shares of Popular in a research report on Tuesday, July 12th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $48.00 price target on shares of Popular in a research report on Friday, August 26th. Barclays PLC increased their price target on Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research raised Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus 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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