Popular Inc (NASDAQ:BPOP) Short Interest Down 12.5% in June

Popular Inc (NASDAQ:BPOP) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,706,500 shares, a decrease of 12.5% from the May 30th total of 3,092,500 shares. Based on an average daily trading volume, of 475,800 shares, the short-interest ratio is currently 5.7 days. Currently, 2.8% of the shares of the company are short sold.

Shares of NASDAQ BPOP traded up $1.12 during midday trading on Friday, reaching $56.38. The stock had a trading volume of 413,092 shares, compared to its average volume of 425,701. The business’s 50-day simple moving average is $53.68. The company has a market cap of $5.45 billion, a P/E ratio of 11.82 and a beta of 1.17. Popular has a 12-month low of $44.22 and a 12-month high of $58.99.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.24. The firm had revenue of $607.39 million during the quarter, compared to analysts’ expectations of $603.70 million. Popular had a net margin of 24.69% and a return on equity of 10.58%. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, equities research analysts anticipate that Popular will post 6.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Tuesday, May 28th were paid a $0.30 dividend. The ex-dividend date was Friday, May 24th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.13%. Popular’s dividend payout ratio (DPR) is presently 25.16%.

A number of analysts have commented on the stock. BTIG Research upped their target price on shares of Popular to $66.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Saturday, June 29th. Finally, Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $59.43.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Popular by 108.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,076,845 shares of the bank’s stock worth $50,847,000 after acquiring an additional 559,566 shares during the last quarter. Northern Trust Corp boosted its position in shares of Popular by 4.2% during the fourth quarter. Northern Trust Corp now owns 514,656 shares of the bank’s stock worth $24,302,000 after acquiring an additional 20,609 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Popular during the fourth quarter worth $141,000. Great West Life Assurance Co. Can boosted its position in shares of Popular by 8.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 12,370 shares of the bank’s stock worth $563,000 after acquiring an additional 1,003 shares during the last quarter. Finally, United Services Automobile Association boosted its position in shares of Popular by 6.6% during the fourth quarter. United Services Automobile Association now owns 85,209 shares of the bank’s stock worth $4,024,000 after acquiring an additional 5,299 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

About Popular

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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