Popular, Inc. (BPOP) Shares Sold by Stevens Capital Management LP
Stevens Capital Management LP lessened its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 20.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,528 shares of the bank’s stock after selling 12,199 shares during the quarter. Stevens Capital Management LP’s holdings in Popular were worth $2,024,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in BPOP. US Bancorp DE boosted its stake in Popular by 3.2% during the first quarter. US Bancorp DE now owns 14,031 shares of the bank’s stock worth $572,000 after buying an additional 440 shares during the period. Bank of New York Mellon Corp boosted its stake in Popular by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 558,663 shares of the bank’s stock worth $22,756,000 after buying an additional 7,375 shares during the period. Swiss National Bank boosted its stake in Popular by 0.5% during the first quarter. Swiss National Bank now owns 171,500 shares of the bank’s stock worth $6,985,000 after buying an additional 900 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Popular by 13.7% during the first quarter. UBS Asset Management Americas Inc. now owns 94,091 shares of the bank’s stock worth $3,832,000 after buying an additional 11,322 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Popular by 20.4% during the first quarter. Ameriprise Financial Inc. now owns 280,127 shares of the bank’s stock worth $11,413,000 after buying an additional 47,382 shares during the period. 85.84% of the stock is owned by institutional investors.
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Several research analysts have recently commented on BPOP shares. Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, September 7th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price objective on shares of Popular in a research note on Friday, July 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $51.00 price objective on shares of Popular in a research note on Thursday, June 29th. Morgan Stanley lowered their price objective on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 6th. Finally, BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.50.
Popular, Inc. (BPOP) opened at 39.98 on Friday. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 18.06 and a beta of 1.29. Popular, Inc. has a 1-year low of $35.08 and a 1-year high of $45.96. The stock has a 50 day moving average of $40.19 and a 200 day moving average of $40.22.
Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $491.27 million during 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. Equities analysts expect that Popular, Inc. will post $3.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 13th. Popular’s dividend payout ratio is presently 45.05%.
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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