Great Lakes Advisors LLC lowered its position in Popular Inc (NASDAQ:BPOP) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,077 shares of the bank’s stock after selling 823 shares during the quarter. Great Lakes Advisors LLC’s holdings in Popular were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. boosted its stake in shares of Popular by 10.3% during the first quarter. First Republic Investment Management Inc. now owns 5,526 shares of the bank’s stock valued at $288,000 after purchasing an additional 514 shares during the period. Nkcfo LLC purchased a new stake in shares of Popular during the fourth quarter valued at approximately $28,000. ClariVest Asset Management LLC boosted its stake in shares of Popular by 0.9% during the fourth quarter. ClariVest Asset Management LLC now owns 68,600 shares of the bank’s stock valued at $3,239,000 after purchasing an additional 600 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Popular during the fourth quarter valued at approximately $30,000. Finally, Hanseatic Management Services Inc. boosted its stake in shares of Popular by 30.7% during the fourth quarter. Hanseatic Management Services Inc. now owns 2,706 shares of the bank’s stock valued at $128,000 after purchasing an additional 636 shares during the period. 87.64% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Carlos J. Vazquez sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $55.48, for a total value of $221,920.00. Following the completion of the sale, the insider now owns 106,352 shares of the company’s stock, valued at $5,900,408.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.33% of the company’s stock.
A number of analysts have recently weighed in on BPOP shares. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, January 29th. BTIG Research increased their price objective on Popular to $66.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, BidaskClub lowered Popular from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.71.
NASDAQ:BPOP opened at $53.21 on Friday. The company has a market cap of $5.14 billion, a PE ratio of 11.16 and a beta of 1.20. Popular Inc has a fifty-two week low of $44.22 and a fifty-two week high of $58.99.
Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. Popular had a return on equity of 10.58% and a net margin of 24.69%. The company had revenue of $607.39 million during the quarter, compared to analyst estimates of $603.70 million. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, sell-side analysts forecast that Popular Inc will post 6.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Tuesday, May 28th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, May 24th. Popular’s payout ratio is 25.16%.
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Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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