New York State Common Retirement Fund lifted its position in Popular, Inc. (NASDAQ:BPOP) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,981 shares of the bank’s stock after purchasing an additional 31,579 shares during the quarter. New York State Common Retirement Fund owned 0.51% of Popular worth $18,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wedge Capital Management L L P NC raised its stake in shares of Popular by 0.4% in the second quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the bank’s stock valued at $731,000 after purchasing an additional 75 shares in the last quarter. Teacher Retirement System of Texas grew its position in Popular by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock valued at $347,000 after acquiring an additional 128 shares during the period. M&T Bank Corp grew its position in Popular by 2.8% in the second quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock valued at $241,000 after acquiring an additional 159 shares during the period. The Manufacturers Life Insurance Company grew its position in Popular by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after acquiring an additional 200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Popular by 12.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock valued at $162,000 after acquiring an additional 423 shares during the period. Institutional investors and hedge funds own 88.96% of the company’s stock.

Shares of Popular, Inc. (NASDAQ:BPOP) opened at $34.73 on Friday. The company has a market capitalization of $3,660.71, a price-to-earnings ratio of 12.46 and a beta of 1.31. Popular, Inc. has a 1-year low of $32.04 and a 1-year high of $45.96.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, October 31st. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.76). The business had revenue of $478.50 million for the quarter, compared to the consensus estimate of $513.85 million. Popular had a return on equity of 5.70% and a net margin of 9.98%. Popular’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. equities analysts forecast that Popular, Inc. will post 2.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, December 4th. Popular’s payout ratio is presently 50.76%.

BPOP has been the topic of a number of analyst reports. Compass Point upgraded Popular from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Barclays upgraded Popular from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research report on Thursday, October 26th. Zacks Investment Research cut Popular from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $50.50 price target on shares of Popular in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded Popular from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $46.42.

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About Popular

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.

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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