Gerstein Fisher increased its stake in Popular, Inc. (NASDAQ:BPOP) by 28.0% during the third quarter, Holdings Channel reports. The firm owned 13,838 shares of the company’s stock after buying an additional 3,023 shares during the period. Gerstein Fisher’s holdings in Popular were worth $529,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Egerton Capital UK LLP purchased a new position in shares of Popular during the third quarter worth approximately $73,062,000. Miura Global Management LLC purchased a new position in shares of Popular during the third quarter worth approximately $38,220,000. Vanguard Group Inc. boosted 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 in the last quarter. Emerald Acquisition Ltd. boosted its position in shares of Popular by 76.5% in the third quarter. Emerald Acquisition Ltd. now owns 1,262,214 shares of the company’s stock worth $48,242,000 after buying an additional 547,009 shares in the last quarter. Finally, Carlson Capital L P boosted its position in shares of Popular by 15.8% in the second quarter. Carlson Capital L P now owns 2,200,016 shares of the company’s stock worth $64,460,000 after buying an additional 300,016 shares in the last quarter. Institutional investors and hedge funds own 85.70% of the company’s stock.
Shares of Popular, Inc. (NASDAQ:BPOP) traded down 0.25% during trading on Wednesday, hitting $43.27. The stock had a trading volume of 362,770 shares. The stock has a 50 day moving average of $44.19 and a 200 day moving average of $40.04. Popular, Inc. has a 12 month low of $23.51 and a 12 month high of $45.71. The company has a market cap of $4.49 billion, a PE ratio of 20.99 and a beta of 1.58.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, January 24th. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Popular had a net margin of 11.02% and a return on equity of 6.73%. During the same period in the previous year, the company earned $1.32 earnings per share. Equities analysts forecast that Popular, Inc. will post $3.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 17th will be paid a dividend of $0.25 per share. This is a boost from Popular’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Popular’s dividend payout ratio is currently 29.27%.
A number of research analysts have recently commented on BPOP shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Popular in a research report on Wednesday, October 12th. Zacks Investment Research raised Popular from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Barclays PLC increased their price objective on Popular from $43.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, January 25th. Compass Point cut Popular from a “buy” rating to a “neutral” rating in a report on Friday, November 18th. Finally, TheStreet cut Popular from a “b” rating to a “c+” rating in a report on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $43.00.
In related news, CFO Carlos J. Vazquez sold 18,292 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $43.90, for a total value of $803,018.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ileana Gonzalez sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $41.51, for a total value of $207,550.00. Following the completion of the sale, the insider now owns 31,087 shares of the company’s stock, valued at approximately $1,290,421.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,792 shares of company stock worth $1,408,004. Insiders own 1.28% of the company’s stock.
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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