Popular, Inc. (BPOP) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. boosted its stake in Popular, Inc. (NASDAQ:BPOP) by 36.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 551,335 shares of the bank’s stock after buying an additional 146,370 shares during the quarter. Prudential Financial Inc. owned approximately 0.54% of Popular worth $22,996,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in BPOP. BlackRock Inc. lifted its position in Popular by 13,970.4% in the 1st quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock worth $181,886,000 after buying an additional 4,433,912 shares in the last quarter. AQR Capital Management LLC lifted its position in Popular by 37.9% in the 1st quarter. AQR Capital Management LLC now owns 3,334,844 shares of the bank’s stock worth $135,829,000 after buying an additional 916,126 shares in the last quarter. Martingale Asset Management L P lifted its position in Popular by 528.3% in the 1st quarter. Martingale Asset Management L P now owns 716,537 shares of the bank’s stock worth $29,185,000 after buying an additional 602,487 shares in the last quarter. Point72 Europe London LLP lifted its position in Popular by 165.2% in the 1st quarter. Point72 Europe London LLP now owns 906,306 shares of the bank’s stock worth $36,914,000 after buying an additional 564,544 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in Popular by 19.1% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,441,716 shares of the bank’s stock worth $140,181,000 after buying an additional 551,662 shares in the last quarter. Institutional investors own 85.85% of the company’s stock.
A number of equities research analysts have issued reports on BPOP shares. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Keefe, Bruyette & Woods set a $46.00 target price on shares of Popular and gave the stock a “hold” rating in a research report on Monday, June 5th. Morgan Stanley cut their target price on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 6th. BidaskClub upgraded shares of Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $51.00 target price on shares of Popular in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Popular has an average rating of “Hold” and an average target price of $47.83.
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Popular, Inc. (NASDAQ:BPOP) opened at 40.62 on Tuesday. Popular, Inc. has a 1-year low of $35.08 and a 1-year high of $45.96. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 18.35 and a beta of 1.29. The company has a 50-day moving average of $40.98 and a 200-day moving average of $40.71.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The firm had revenue of $491.27 million for the quarter, compared to the consensus estimate of $500.66 million. During the same period in the previous year, the company earned $0.85 earnings per share. On average, equities analysts predict that Popular, Inc. will post $3.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. Popular’s dividend payout ratio is currently 45.05%.
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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