Popular Inc. (BPOP) Shares Sold by Pzena Investment Management LLC
Pzena Investment Management LLC decreased its stake in shares of Popular Inc. (NASDAQ:BPOP) by 39.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 114,425 shares of the company’s stock after selling 74,405 shares during the period. Pzena Investment Management LLC owned approximately 0.11% of Popular worth $4,373,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Utah Retirement Systems raised its stake in Popular by 1.1% in the second quarter. Utah Retirement Systems now owns 18,609 shares of the company’s stock valued at $546,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank raised its stake in Popular by 2.8% in the second quarter. Amalgamated Bank now owns 12,378 shares of the company’s stock valued at $455,000 after buying an additional 338 shares in the last quarter. Paloma Partners Management Co raised its stake in Popular by 7.5% in the second quarter. Paloma Partners Management Co now owns 10,604 shares of the company’s stock valued at $311,000 after buying an additional 744 shares in the last quarter. Calvert Investment Management Inc. raised its stake in Popular by 11.5% in the second quarter. Calvert Investment Management Inc. now owns 8,339 shares of the company’s stock valued at $244,000 after buying an additional 859 shares in the last quarter. Finally, Swiss National Bank raised its stake in Popular by 0.5% in the second quarter. Swiss National Bank now owns 174,900 shares of the company’s stock valued at $5,125,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.
Popular Inc. (NASDAQ:BPOP) traded up 0.97% on Tuesday, hitting $40.66. The stock had a trading volume of 639,453 shares. Popular Inc. has a 12 month low of $22.40 and a 12 month high of $42.83. The company has a 50-day moving average of $38.74 and a 200 day moving average of $35.13. The company has a market cap of $4.22 billion, a PE ratio of 11.84 and a beta of 1.63.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 25th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.44. Popular had a return on equity of 6.99% and a net margin of 17.25%. During the same period last year, the company posted $0.82 EPS. On average, analysts predict that Popular Inc. will post $3.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Friday, December 9th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, December 7th. Popular’s dividend payout ratio is currently 17.54%.
Several equities research analysts recently issued reports on BPOP shares. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Popular in a report on Wednesday, October 12th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $48.00 target price on shares of Popular in a report on Friday, August 26th. Zacks Investment Research raised shares of Popular from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Finally, Compass Point downgraded Popular from a “buy” rating to a “neutral” rating in a research note on Friday, November 18th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.83.
In related news, EVP Eli Sepulveda sold 3,762 shares of Popular stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $36.97, for a total transaction of $139,081.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard L. Carrion sold 16,858 shares of Popular stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $37.44, for a total value of $631,163.52. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
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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