Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Popular, Inc. (BPOP)
Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 12.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,887 shares of the bank’s stock after purchasing an additional 423 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Popular were worth $162,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in Popular by 7.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,917,393 shares of the bank’s stock worth $241,015,000 after purchasing an additional 427,942 shares during the last quarter. BlackRock Inc. lifted its holdings in Popular by 13,970.4% during the 1st quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock worth $181,886,000 after purchasing an additional 4,433,912 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Popular by 4.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,197,066 shares of the bank’s stock worth $175,060,000 after purchasing an additional 175,571 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Popular by 19.1% during the 1st quarter. Frontier Capital Management Co. LLC now owns 3,441,716 shares of the bank’s stock worth $140,181,000 after purchasing an additional 551,662 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Popular by 37.9% during the 1st quarter. AQR Capital Management LLC now owns 3,334,844 shares of the bank’s stock worth $135,829,000 after purchasing an additional 916,126 shares during the last quarter. 85.84% of the stock is owned by institutional investors and hedge funds.
Popular, Inc. (NASDAQ BPOP) opened at 40.03 on Tuesday. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 18.08 and a beta of 1.29. Popular, Inc. has a 1-year low of $35.08 and a 1-year high of $45.96. The firm’s 50-day moving average price is $40.27 and its 200-day moving average price is $40.25.
Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 7.11% and a net margin of 11.57%. During the same quarter in the prior year, the business posted $0.85 earnings per share. Equities research analysts forecast that Popular, Inc. will post $3.84 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.50%. Popular’s dividend payout ratio is currently 45.05%.
Several analysts recently weighed in on BPOP shares. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday. 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 Popular and gave the stock 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. Finally, BidaskClub raised Popular from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.50.
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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