Janus Henderson Group PLC acquired a new position in shares of Popular Inc (NASDAQ:BPOP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 67,000 shares of the bank’s stock, valued at approximately $3,029,000. Janus Henderson Group PLC owned 0.07% of Popular at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of BPOP. Martingale Asset Management L P boosted its stake in Popular by 74.8% in the second quarter. Martingale Asset Management L P now owns 785,567 shares of the bank’s stock valued at $35,516,000 after buying an additional 336,219 shares in the last quarter. Royce & Associates LP boosted its stake in Popular by 5.2% in the second quarter. Royce & Associates LP now owns 501,357 shares of the bank’s stock valued at $22,666,000 after buying an additional 25,000 shares in the last quarter. Sun Life Financial INC acquired a new stake in shares of Popular during the second quarter valued at about $206,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Popular by 2.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 780,485 shares of the bank’s stock valued at $35,286,000 after purchasing an additional 20,372 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Popular by 21.9% during the second quarter. Wells Fargo & Company MN now owns 475,533 shares of the bank’s stock valued at $21,500,000 after purchasing an additional 85,324 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
BPOP has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating and set a $55.00 price target on shares of Popular in a research note on Wednesday, July 25th. Citigroup lifted their price target on Popular from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Sandler O’Neill reissued a “buy” rating and set a $58.00 price target on shares of Popular in a research note on Monday, July 23rd. Morgan Stanley lifted their price objective on Popular from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 31st. Finally, BidaskClub lowered Popular from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Popular currently has an average rating of “Buy” and an average price target of $53.61.
BPOP stock traded down $0.79 during mid-day trading on Friday, reaching $48.97. The company’s stock had a trading volume of 1,114,864 shares, compared to its average volume of 714,039. The company has a market cap of $5.24 billion, a P/E ratio of 18.27 and a beta of 1.14. Popular Inc has a 12 month low of $32.04 and a 12 month high of $53.00.
Popular (NASDAQ:BPOP) last issued its earnings results on Monday, July 23rd. The bank reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.23. The business had revenue of $648.95 million during the quarter, compared to the consensus estimate of $526.70 million. Popular had a return on equity of 5.78% and a net margin of 12.21%. During the same period in the previous year, the company posted $0.94 earnings per share. On average, research analysts predict that Popular Inc will post 4.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Thursday, September 13th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. Popular’s dividend payout ratio is 37.31%.
In related news, insider Richard L. Carrion sold 200,000 shares of Popular stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $50.16, for a total transaction of $10,032,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Eli Sepulveda sold 5,000 shares of Popular stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $50.30, for a total value of $251,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,156 shares of company stock valued at $17,547,056. Corporate insiders own 1.38% of the company’s stock.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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