California State Teachers Retirement System Increases Stake in Popular, Inc. (BPOP)
California State Teachers Retirement System boosted its stake in Popular, Inc. (NASDAQ:BPOP) by 0.9% during the third quarter, Holdings Channel reports. The firm owned 224,738 shares of the company’s stock after buying an additional 1,900 shares during the period. California State Teachers Retirement System owned 0.22% of Popular worth $8,589,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of BPOP. State of Tennessee Treasury Department bought a new stake in Popular during the third quarter worth about $4,028,000. Hancock Holding Co. bought a new stake in Popular during the third quarter worth about $900,000. Boston Partners raised its stake in Popular by 26.9% in the third quarter. Boston Partners now owns 592,280 shares of the company’s stock worth $22,637,000 after buying an additional 125,519 shares during the period. Engineers Gate Manager LP raised its stake in Popular by 25.9% in the third quarter. Engineers Gate Manager LP now owns 68,109 shares of the company’s stock worth $2,603,000 after buying an additional 13,992 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Popular by 920.2% in the third quarter. Ameriprise Financial Inc. now owns 160,606 shares of the company’s stock worth $6,140,000 after buying an additional 144,864 shares during the period. Institutional investors own 84.08% of the company’s stock.
Popular, Inc. (NASDAQ:BPOP) traded up 2.71% on Friday, reaching $45.55. The company’s stock had a trading volume of 71,295 shares. The firm has a 50 day moving average price of $43.12 and a 200 day moving average price of $37.66. Popular, Inc. has a 52 week low of $22.40 and a 52 week high of $45.56. The stock has a market capitalization of $4.73 billion, a P/E ratio of 13.26 and a beta of 1.62.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.44. Popular had a net margin of 17.25% and a return on equity of 6.99%. During the same quarter last year, the company earned $0.82 EPS. On average, equities analysts anticipate that Popular, Inc. will post $3.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 2nd. Stockholders of record on Friday, December 9th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.35%. Popular’s payout ratio is 17.54%.
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BPOP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Popular in a research report on Wednesday, October 12th. Zacks Investment Research lowered Popular from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. Compass Point cut Popular from a “buy” rating to a “neutral” rating in a report on Friday, November 18th. Finally, BTIG Research cut Popular from a “buy” rating to a “neutral” rating in a report on Tuesday, November 22nd. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Popular presently has an average rating of “Buy” and a consensus price target of $40.67.
In other news, CEO Richard L. Carrion sold 16,858 shares of Popular stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $37.44, for a total transaction of $631,163.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider O. Rivera Nestor sold 10,000 shares of Popular stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $37.97, for a total value of $379,700.00. Following the transaction, the insider now owns 31,400 shares of the company’s stock, valued at $1,192,258. The disclosure for this sale can be found here. 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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