Popular, Inc. (BPOP) Position Cut by Laurion Capital Management LP
Laurion Capital Management LP reduced its position in shares of Popular, Inc. (NASDAQ:BPOP) by 70.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,900 shares of the bank’s stock after selling 11,900 shares during the period. Laurion Capital Management LP’s holdings in Popular were worth $204,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its position in Popular by 5.8% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 6,261,030 shares of the bank’s stock worth $261,148,000 after purchasing an additional 343,637 shares during the last quarter. BlueMountain Capital Management LLC increased its position in Popular by 25.7% during the second quarter. BlueMountain Capital Management LLC now owns 71,259 shares of the bank’s stock worth $2,972,000 after purchasing an additional 14,580 shares during the last quarter. Amalgamated Bank increased its position in Popular by 23.9% during the second quarter. Amalgamated Bank now owns 18,224 shares of the bank’s stock worth $760,000 after purchasing an additional 3,511 shares during the last quarter. BlackRock Inc. increased its position in Popular by 12.7% during the second quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock worth $209,937,000 after purchasing an additional 567,642 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Popular by 13.3% during the second quarter. Ameriprise Financial Inc. now owns 317,244 shares of the bank’s stock worth $13,235,000 after purchasing an additional 37,117 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.
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Several equities research analysts recently issued reports on BPOP shares. BidaskClub upgraded shares of Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. Royal Bank Of Canada restated a “buy” rating and set a $51.00 price objective on shares of Popular in a research report on Thursday, June 29th. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Morgan Stanley restated an “equal weight” rating and set a $43.00 price objective (up from $42.00) on shares of Popular in a research report on Friday, July 7th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $53.00 price objective on shares of Popular in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $47.50.
Shares of Popular, Inc. (NASDAQ BPOP) opened at 34.73 on Thursday. The firm’s 50 day moving average is $38.96 and its 200-day moving average is $39.91. Popular, Inc. has a 12 month low of $34.45 and a 12 month high of $45.96. The firm has a market capitalization of $3.54 billion, a PE ratio of 15.69 and a beta of 1.25.
Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The company had revenue of $491.27 million for the quarter, compared to analyst estimates 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 firm earned $0.85 EPS. On average, analysts expect that Popular, Inc. will post $3.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. Popular’s payout ratio is currently 45.05%.
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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