Raffles Associates LP lifted its holdings in Popular, Inc. (NASDAQ:BPOP) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 265,000 shares of the bank’s stock after buying an additional 5,000 shares during the period. Popular comprises 10.4% of Raffles Associates LP’s holdings, making the stock its largest holding. Raffles Associates LP owned approximately 0.26% of Popular worth $11,053,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Morgan Stanley boosted its position in Popular by 18.2% in the 1st quarter. Morgan Stanley now owns 567,202 shares of the bank’s stock valued at $23,102,000 after buying an additional 87,306 shares during the period. JPMorgan Chase & Co. boosted its position in Popular by 3.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock valued at $63,098,000 after buying an additional 53,446 shares during the period. BlackRock Inc. boosted its position in Popular by 12.7% in the 2nd quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock valued at $209,937,000 after buying an additional 567,642 shares during the period. Prudential Financial Inc. boosted its position in Popular by 36.1% in the 2nd quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock valued at $22,996,000 after buying an additional 146,370 shares during the period. Finally, Aperio Group LLC boosted its position in Popular by 0.4% in the 2nd quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock valued at $4,316,000 after buying an additional 380 shares during the period. Institutional investors own 85.84% of the company’s stock.
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Several equities research analysts have recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and set a $53.00 price target on shares of Popular in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Popular from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Morgan Stanley restated an “equal weight” rating and set a $43.00 price target (up previously from $42.00) on shares of Popular in a research note on Friday, July 7th. BidaskClub upgraded shares of Popular from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $51.00 price objective on shares of Popular in a research note on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.33.
Shares of Popular, Inc. (BPOP) traded down 0.03% during mid-day trading on Friday, reaching $32.48. 743,078 shares of the company were exchanged. The stock has a market capitalization of $3.31 billion, a P/E ratio of 14.67 and a beta of 1.25. The stock has a 50 day moving average price of $36.85 and a 200-day moving average price of $39.39. Popular, Inc. has a 12 month low of $32.05 and a 12 month high of $45.96.
Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Popular had a return on equity of 7.11% and a net margin of 11.57%. The firm had revenue of $491.27 million for the quarter, compared to analysts’ expectations of $500.66 million. During the same quarter last year, the business posted $0.85 EPS. Analysts predict that Popular, Inc. will post $3.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.08%. Popular’s payout ratio is presently 45.05%.
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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