Dimensional Fund Advisors LP Trims Holdings in Popular Inc (BPOP)
Dimensional Fund Advisors LP trimmed its position in shares of Popular Inc (NASDAQ:BPOP) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,328,094 shares of the bank’s stock after selling 133,235 shares during the period. Dimensional Fund Advisors LP owned 3.26% of Popular worth $119,619,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BPOP. The Manufacturers Life Insurance Company boosted its holdings in shares of Popular by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock worth $124,000 after acquiring an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Popular by 12.2% in the second 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. ETRADE Capital Management LLC bought a new position in shares of Popular in the second quarter worth $204,000. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Popular by 229.4% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock worth $233,000 after acquiring an additional 3,900 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Popular by 2.8% in the second quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock worth $241,000 after acquiring an additional 159 shares during the period. 88.96% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on BPOP shares. Barclays cut their price target on Popular from $47.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Zacks Investment Research lowered Popular from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Compass Point raised Popular from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. BTIG Research raised Popular from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $50.50 price target on shares of Popular in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.42.
Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, October 31st. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). The business had revenue of $478.50 million for the quarter, compared to the consensus estimate of $513.85 million. Popular had a net margin of 9.98% and a return on equity of 5.70%. Popular’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. equities analysts anticipate that Popular Inc will post 2.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, December 4th. Popular’s dividend payout ratio is 50.76%.
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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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