Popular Inc. (BPOP) Position Reduced by Alps Advisors Inc.
Alps Advisors Inc. decreased its position in Popular Inc. (NASDAQ:BPOP) by 6.8% during the second quarter, Holdings Channel reports. The firm owned 14,488 shares of the company’s stock after selling 1,064 shares during the period. Alps Advisors Inc.’s holdings in Popular were worth $424,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Rafferty Asset Management LLC boosted its stake in Popular by 46.4% in the first quarter. Rafferty Asset Management LLC now owns 14,328 shares of the company’s stock valued at $410,000 after buying an additional 4,542 shares during the last quarter. Credit Agricole S A boosted its stake in Popular by 900.0% in the first quarter. Credit Agricole S A now owns 118,200 shares of the company’s stock valued at $3,382,000 after buying an additional 106,380 shares during the last quarter. Investec Asset Management LTD boosted its stake in Popular by 3.0% in the first quarter. Investec Asset Management LTD now owns 2,547,850 shares of the company’s stock valued at $72,894,000 after buying an additional 73,753 shares during the last quarter. Royce & Associates LP purchased a new stake in Popular during the first quarter valued at approximately $1,431,000. Finally, Acrospire Investment Management LLC purchased a new stake in Popular during the first quarter valued at approximately $286,000. 84.10% of the stock is owned by institutional investors and hedge funds.
Shares of Popular Inc. (NASDAQ:BPOP) traded up 0.08% during mid-day trading on Friday, hitting $39.24. 844,431 shares of the stock traded hands. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 10.29 and a beta of 1.73. The stock has a 50-day moving average of $38.60 and a 200-day moving average of $32.54. Popular Inc. has a 52 week low of $22.40 and a 52 week high of $39.88.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, beating 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 last year, the firm earned $5.79 earnings per share. Analysts anticipate that Popular Inc. will post $3.42 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a $0.15 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.53%. Popular’s dividend payout ratio (DPR) is presently 15.79%.
Several research firms have commented on BPOP. Barclays PLC lifted their target price 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 reaffirmed a “buy” rating and issued a $41.00 target price on shares of Popular in a research note on Tuesday, July 12th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $48.00 target price on shares of Popular in a research note on Friday, August 26th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock 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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