Popular, Inc. (BPOP) Shares Bought by Jacobs Asset Management LLC
Jacobs Asset Management LLC grew its holdings in Popular, Inc. (NASDAQ:BPOP) by 19.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 528,360 shares of the bank’s stock after buying an additional 85,305 shares during the quarter. Popular makes up about 3.6% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. Jacobs Asset Management LLC owned approximately 0.52% of Popular worth $18,989,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BPOP. Sei Investments Co. lifted its holdings in Popular by 46.4% in the 2nd quarter. Sei Investments Co. now owns 20,120 shares of the bank’s stock worth $839,000 after buying an additional 6,374 shares during the period. TD Asset Management Inc. lifted its holdings in Popular by 21.6% in the 2nd quarter. TD Asset Management Inc. now owns 28,100 shares of the bank’s stock worth $1,172,000 after buying an additional 5,000 shares during the period. Trexquant Investment LP purchased a new stake in Popular in the 2nd quarter worth approximately $263,000. Wedge Capital Management L L P NC lifted its holdings in Popular by 0.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the bank’s stock worth $731,000 after buying an additional 75 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in Popular by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock worth $347,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 88.96% of the company’s stock.
BPOP has been the subject of several research analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $50.50 price objective on shares of Popular in a report on Wednesday, November 1st. BTIG Research upgraded Popular from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Compass Point upgraded Popular from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, September 7th. Finally, ValuEngine upgraded Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $46.75.
Popular, Inc. (NASDAQ BPOP) opened at $34.97 on Thursday. The company has a market capitalization of $3,581.13, a P/E ratio of 12.19 and a beta of 1.31. Popular, Inc. has a one year low of $32.04 and a one year high of $45.96.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 31st. The bank reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). The firm had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $513.85 million. Popular had a net margin of 9.98% and a return on equity of 5.70%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. analysts forecast that Popular, Inc. will post 2.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, December 4th. Popular’s payout ratio is presently 50.76%.
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Popular Company Profile
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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