Loomis Sayles & Co. L P increased its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 5.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 624,784 shares of the bank’s stock after purchasing an additional 32,653 shares during the period. Loomis Sayles & Co. L P owned 0.78% of Popular worth $43,934,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Morgan Stanley grew its holdings in Popular by 24.1% during the first quarter. Morgan Stanley now owns 404,840 shares of the bank’s stock worth $28,469,000 after purchasing an additional 78,488 shares during the period. Tudor Investment Corp Et Al grew its holdings in Popular by 91.8% during the first quarter. Tudor Investment Corp Et Al now owns 22,697 shares of the bank’s stock worth $1,596,000 after purchasing an additional 10,863 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Popular by 13.4% during the first quarter. Cubist Systematic Strategies LLC now owns 49,549 shares of the bank’s stock worth $3,484,000 after purchasing an additional 5,842 shares during the period. Stieven Capital Advisors L.P. bought a new position in Popular during the first quarter worth about $17,907,000. Finally, Royal Bank of Canada lifted its position in Popular by 5.5% during the first quarter. Royal Bank of Canada now owns 406,153 shares of the bank’s stock worth $28,560,000 after acquiring an additional 21,007 shares during the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.
Shares of BPOP opened at $72.70 on Thursday. Popular, Inc. has a one year low of $34.30 and a one year high of $83.72. The firm has a market capitalization of $5.86 billion, a P/E ratio of 8.35 and a beta of 1.20. The company’s 50 day moving average price is $77.33.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Shareholders of record on Wednesday, May 26th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Tuesday, May 25th. This is a boost from Popular’s previous quarterly dividend of $0.40. Popular’s payout ratio is presently 30.66%.
In related news, EVP Camille Burckhart sold 7,000 shares of the business’s stock in a transaction on Thursday, May 6th. The shares were sold at an average price of $77.45, for a total value of $542,150.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $74.92, for a total transaction of $749,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,033 shares of company stock worth $1,293,863. Insiders own 1.69% of the company’s stock.
A number of research firms have recently weighed in on BPOP. Royal Bank of Canada lifted their price target on shares of Popular from $70.00 to $83.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. lifted their price target on shares of Popular from $69.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, April 14th. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Friday, April 2nd. Finally, Citigroup boosted their price objective on shares of Popular from $69.00 to $83.00 in a research report on Wednesday, April 14th. Six research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $78.17.
Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico and Popular U.S. The Banco Popular de Puerto Rico segment includes retail, mortgage and commercial banking services.
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