Popular, Inc. (BPOP) Position Reduced by Symphony Asset Management LLC
Symphony Asset Management LLC lowered its position in Popular, Inc. (NASDAQ:BPOP) by 76.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,241 shares of the bank’s stock after selling 20,734 shares during the period. Symphony Asset Management LLC’s holdings in Popular were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Morgan Stanley lifted its position in Popular by 18.2% in the first quarter. Morgan Stanley now owns 567,202 shares of the bank’s stock valued at $23,102,000 after purchasing an additional 87,306 shares during the period. Suntrust Banks Inc. lifted its position in Popular by 0.9% in the first quarter. Suntrust Banks Inc. now owns 16,965 shares of the bank’s stock valued at $690,000 after purchasing an additional 153 shares during the period. Aperio Group LLC lifted its position in Popular by 0.4% in the second quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock valued at $4,316,000 after purchasing an additional 380 shares during the period. Prudential Financial Inc. lifted its position in Popular by 36.1% in the second quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock valued at $22,996,000 after purchasing an additional 146,370 shares during the period. Finally, Stifel Financial Corp lifted its position in Popular by 5.1% in the first quarter. Stifel Financial Corp now owns 77,212 shares of the bank’s stock valued at $3,147,000 after purchasing an additional 3,717 shares during the period. Hedge funds and other institutional investors own 85.85% of the company’s stock.
Shares of Popular, Inc. (BPOP) opened at 40.71 on Friday. Popular, Inc. has a 52-week low of $35.08 and a 52-week high of $45.96. The stock’s 50 day moving average is $40.34 and its 200-day moving average is $40.34. The firm has a market capitalization of $4.15 billion, a P/E ratio of 18.39 and a beta of 1.29.
Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.02. The business had revenue of $491.27 million during the quarter, compared to analysts’ expectations of $500.66 million. Popular had a net margin of 11.57% and a return on equity of 7.11%. During the same period last year, the firm posted $0.85 earnings per share. On average, equities analysts forecast that Popular, Inc. will post $3.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, September 13th. Popular’s dividend payout ratio (DPR) is presently 45.05%.
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A number of equities research analysts recently commented on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 price objective on shares of Popular in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price target (up from $42.00) on shares of Popular in a research report on Friday, July 7th. BidaskClub upgraded shares of Popular from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $51.00 price target on shares of Popular in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Popular has a consensus rating of “Hold” and a consensus price target of $47.50.
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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