ClariVest Asset Management LLC boosted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 242.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,900 shares of the bank’s stock after acquiring an additional 89,100 shares during the period. ClariVest Asset Management LLC owned 0.12% of Popular worth $4,524,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Popular by 3.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock worth $63,098,000 after buying an additional 53,446 shares in the last quarter. BlackRock Inc. grew its stake in shares of Popular by 12.7% in the 2nd quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock worth $209,937,000 after buying an additional 567,642 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Popular by 36.1% in the 2nd quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock worth $22,996,000 after buying an additional 146,370 shares in the last quarter. Aperio Group LLC grew its stake in shares of Popular by 0.4% in the 2nd quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock worth $4,316,000 after buying an additional 380 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Popular by 35.1% in the 2nd quarter. Royce & Associates LP now owns 223,300 shares of the bank’s stock worth $9,314,000 after buying an additional 58,000 shares in the last quarter. 84.76% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price objective on shares of Popular in a research note on Friday, July 28th. Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Friday, September 15th. ValuEngine cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Barclays PLC lifted their price objective on shares of Popular from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $46.75.
Popular, Inc. (BPOP) traded up $0.67 during mid-day trading on Monday, hitting $34.23. 933,700 shares of the company were exchanged, compared to its average volume of 731,982. Popular, Inc. has a 52-week low of $32.04 and a 52-week high of $45.96. The stock has a market cap of $3,492.36, a PE ratio of 11.89 and a beta of 1.33.
Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, October 31st. The bank reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.76). Popular had a return on equity of 5.70% and a net margin of 9.98%. The firm had revenue of $478.50 million for the quarter, compared to analysts’ expectations of $513.85 million. During the same period in the prior year, the firm posted $0.44 earnings per share. Popular’s revenue for the quarter was up 11.3% on a year-over-year basis. analysts anticipate that Popular, Inc. will post 2.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.92%. Popular’s dividend payout ratio is presently 50.76%.
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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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