GAM Holding AG increased its stake in shares of Popular Inc (NASDAQ:BPOP) by 46.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,433 shares of the bank’s stock after acquiring an additional 9,043 shares during the period. GAM Holding AG’s holdings in Popular were worth $1,457,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EJF Capital LLC acquired a new position in Popular during the second quarter worth approximately $18,527,000. Martingale Asset Management L P increased its position in Popular by 74.8% during the second quarter. Martingale Asset Management L P now owns 785,567 shares of the bank’s stock worth $35,516,000 after buying an additional 336,219 shares during the last quarter. FMR LLC increased its position in Popular by 4.2% during the third quarter. FMR LLC now owns 4,581,966 shares of the bank’s stock worth $234,826,000 after buying an additional 185,160 shares during the last quarter. Monarch Partners Asset Management LLC increased its position in Popular by 78.2% during the second quarter. Monarch Partners Asset Management LLC now owns 330,130 shares of the bank’s stock worth $14,925,000 after buying an additional 144,890 shares during the last quarter. Finally, Investec Asset Management LTD increased its position in Popular by 5.8% during the second quarter. Investec Asset Management LTD now owns 2,598,427 shares of the bank’s stock worth $117,475,000 after buying an additional 143,167 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.
In other news, insider Juan Guerrero sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $53.31, for a total value of $319,860.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.27% of the stock is currently owned by corporate insiders.
Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, October 24th. The bank reported $1.38 EPS for the quarter, beating the consensus estimate of $1.18 by $0.20. Popular had a return on equity of 8.13% and a net margin of 16.32%. The company had revenue of $602.49 million for the quarter, compared to the consensus estimate of $586.10 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. Sell-side analysts expect that Popular Inc will post 4.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Tuesday, December 4th. Popular’s payout ratio is 37.31%.
BPOP has been the topic of a number of recent analyst reports. Citigroup boosted their price target on Popular from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. Zacks Investment Research raised Popular from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research report on Friday, October 26th. BidaskClub raised Popular from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Finally, ValuEngine raised Popular from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.88.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. 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, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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