Axa Trims Holdings in Popular Inc (BPOP)
Axa lowered its position in Popular Inc (NASDAQ:BPOP) by 28.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,200 shares of the bank’s stock after selling 114,400 shares during the quarter. Axa owned 0.29% of Popular worth $10,574,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Sei Investments Co. raised its holdings in shares of Popular by 46.4% in the 2nd quarter. Sei Investments Co. now owns 20,120 shares of the bank’s stock worth $839,000 after buying an additional 6,374 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Popular by 21.6% in the 2nd quarter. TD Asset Management Inc. now owns 28,100 shares of the bank’s stock worth $1,172,000 after buying an additional 5,000 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Popular by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock worth $347,000 after buying an additional 128 shares in the last quarter. Cadence Capital Management LLC raised its holdings in shares of Popular by 20.2% in the 2nd quarter. Cadence Capital Management LLC now owns 19,521 shares of the bank’s stock worth $814,000 after buying an additional 3,275 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC raised its holdings in shares of Popular by 1.4% in the 2nd quarter. Minneapolis Portfolio Management Group LLC now owns 475,031 shares of the bank’s stock worth $19,814,000 after buying an additional 6,563 shares in the last quarter. Institutional investors own 88.94% of the company’s stock.
A number of brokerages have recently issued reports on BPOP. Morgan Stanley increased their target price on Popular from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. ValuEngine raised Popular from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods raised Popular from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 28th. Compass Point raised Popular from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. Finally, Barclays increased their target price on Popular from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $46.42.
Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). Popular had a net margin of 9.98% and a return on equity of 5.70%. The business had revenue of $478.50 million for the quarter, compared to analyst estimates of $513.85 million. During the same period in the prior year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. equities research analysts predict that Popular Inc will post 2.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.83%. 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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