Popular, Inc. (BPOP) Shares Sold by Legal & General Group Plc
Legal & General Group Plc decreased its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,823 shares of the bank’s stock after selling 9,583 shares during the period. Legal & General Group Plc owned approximately 0.10% of Popular worth $4,078,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in Popular during the 2nd quarter valued at about $263,000. O Shaughnessy Asset Management LLC increased its stake in Popular by 17.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,251 shares of the bank’s stock valued at $295,000 after buying an additional 1,070 shares during the period. Teacher Retirement System of Texas increased its stake in Popular by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock valued at $347,000 after buying an additional 128 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in Popular during the 1st quarter valued at about $511,000. Finally, Marshall Wace North America L.P. acquired a new position in Popular during the 1st quarter valued at about $511,000. 85.85% of the stock is currently owned by hedge funds and other institutional investors.
Popular, Inc. (NASDAQ BPOP) opened at 40.82 on Thursday. The firm has a market cap of $4.16 billion, a PE ratio of 18.44 and a beta of 1.29. Popular, Inc. has a 52 week low of $35.08 and a 52 week high of $45.96. The stock has a 50 day moving average of $40.48 and a 200 day moving average of $40.37.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The business had revenue of $491.27 million for the quarter, compared to the consensus estimate of $500.66 million. Popular had a net margin of 11.57% and a return on equity of 7.11%. During the same quarter in the prior year, the company earned $0.85 EPS. Analysts anticipate that Popular, Inc. will post $3.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 annualized dividend and a yield of 2.45%. Popular’s dividend payout ratio (DPR) is 45.05%.
Several research firms have commented on BPOP. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and set a $51.00 target price on shares of Popular in a research note on Thursday, June 29th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 target price (up previously from $42.00) on shares of Popular in a research note on Friday, July 7th. Finally, Keefe, Bruyette & Woods set a $46.00 target price on shares of Popular and gave the company a “hold” rating in a research note on Monday, June 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $47.17.
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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