Harbor Advisors LLC continued to hold its position in Popular, Inc. (NASDAQ:BPOP) during the first quarter, Holdings Channel reports. The institutional investor owned 10,000 shares of the bank’s stock at the end of the first quarter. Harbor Advisors LLC’s holdings in Popular were worth $407,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in shares of Popular by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 164,813 shares of the bank’s stock valued at $7,222,000 after buying an additional 456 shares during the last quarter. State Street Corp boosted its position in shares of Popular by 32.9% in the fourth quarter. State Street Corp now owns 2,922,585 shares of the bank’s stock valued at $128,074,000 after buying an additional 723,618 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Popular during the fourth quarter valued at $271,000. Trexquant Investment LP boosted its position in shares of Popular by 7.5% in the fourth quarter. Trexquant Investment LP now owns 9,500 shares of the bank’s stock valued at $416,000 after buying an additional 662 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Popular by 5.9% in the fourth quarter. Renaissance Technologies LLC now owns 422,825 shares of the bank’s stock valued at $18,528,000 after buying an additional 23,700 shares during the last quarter. 86.73% of the stock is currently owned by institutional investors.
Popular, Inc. (NASDAQ:BPOP) traded down 0.79% during midday trading on Friday, reaching $39.02. 607,537 shares of the company’s stock traded hands. The firm has a market cap of $3.98 billion, a PE ratio of 18.23 and a beta of 1.32. Popular, Inc. has a 52-week low of $26.72 and a 52-week high of $45.96. The firm’s 50-day moving average is $39.45 and its 200 day moving average is $41.83.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, April 25th. The bank reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.05. Popular had a net margin of 11.34% and a return on equity of 6.94%. The business had revenue of $477.97 million during the quarter, compared to analyst estimates of $441.33 million. During the same quarter last year, the business earned $0.81 earnings per share. Equities research analysts expect that Popular, Inc. will post $3.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.00 annualized dividend and a yield of 2.56%. Popular’s dividend payout ratio (DPR) is currently 46.95%.
BPOP has been the topic of several recent research reports. Morgan Stanley dropped their price target on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 6th. BidaskClub raised shares of Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. Keefe, Bruyette & Woods set a $46.00 price target on shares of Popular and gave the company a “hold” rating in a research report on Monday, June 5th. BTIG Research reaffirmed a “neutral” rating on shares of Popular in a research report on Saturday, April 22nd. Finally, TheStreet raised shares of Popular from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.67.
In other Popular news, VP Jorge J. Garcia sold 4,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $38.15, for a total transaction of $152,600.00. Following the completion of the transaction, the vice president now owns 11,502 shares in the company, valued at $438,801.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eduardo J. Negron sold 2,500 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $39.98, for a total transaction of $99,950.00. The disclosure for this sale can be found here. Insiders have sold 22,806 shares of company stock valued at $932,921 in the last quarter. 1.27% of the stock is owned by company insiders.
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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