Los Angeles Capital Management & Equity Research Inc. Has $12.52 Million Stake in Popular, Inc. (BPOP)
Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 121.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 300,090 shares of the bank’s stock after acquiring an additional 164,830 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.29% of Popular worth $12,517,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in BPOP. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Popular by 12.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock worth $162,000 after acquiring an additional 423 shares during the period. Trexquant Investment LP bought a new position in shares of Popular during the 2nd quarter worth about $263,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Popular by 17.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,251 shares of the bank’s stock worth $295,000 after acquiring an additional 1,070 shares during the period. Teacher Retirement System of Texas lifted its holdings in Popular by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock valued at $347,000 after purchasing an additional 128 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Popular by 19.1% during the 1st quarter. SG Americas Securities LLC now owns 12,485 shares of the bank’s stock valued at $509,000 after purchasing an additional 2,005 shares during the last quarter. 85.85% of the stock is owned by institutional investors.
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Several equities analysts recently issued reports on BPOP shares. Royal Bank Of Canada reissued a “buy” rating and set a $51.00 price target on shares of Popular in a report on Thursday, June 29th. Keefe, Bruyette & Woods set a $46.00 price target on shares of Popular and gave the company a “hold” rating in a report on Monday, June 5th. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 price target on shares of Popular in a report on Friday, July 28th. BidaskClub raised shares of Popular from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target (up from $42.00) on shares of Popular in a report on Friday, July 7th. One investment 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.17.
Popular, Inc. (NASDAQ BPOP) opened at 38.56 on Friday. The company has a market capitalization of $3.93 billion, a P/E ratio of 17.42 and a beta of 1.29. Popular, Inc. has a one year low of $35.08 and a one year high of $45.96. The company’s 50-day moving average is $40.56 and its 200 day moving average is $40.49.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $491.27 million for the quarter, compared to the consensus estimate of $500.66 million. Popular had a net margin of 11.57% and a return on equity of 7.11%. During the same period in the prior year, the company posted $0.85 earnings per share. Analysts predict that Popular, Inc. will post $3.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Popular’s payout ratio is 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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