Popular Target of Unusually High Options Trading (BPOP)

Popular, Inc. (NASDAQ:BPOP) saw some unusual options trading activity on Tuesday. Traders bought 1,084 call options on the company. This is an increase of approximately Infinity compared to the typical volume of 0 call options.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 53,446 shares during the period. BlackRock Inc. boosted its holdings in 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 acquiring an additional 567,642 shares during the period. Prudential Financial Inc. boosted its holdings in 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 acquiring an additional 146,370 shares during the period. Aperio Group LLC boosted its stake in shares of Popular by 0.4% during 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 last quarter. Finally, Royce & Associates LP boosted its stake in shares of Popular by 35.1% during the 2nd quarter. Royce & Associates LP now owns 223,300 shares of the bank’s stock valued at $9,314,000 after buying an additional 58,000 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

Shares of Popular (NASDAQ BPOP) traded down $0.32 during trading hours on Monday, hitting $35.32. The stock had a trading volume of 1,038,171 shares, compared to its average volume of 742,870. The stock has a market cap of $3,636.22, a PE ratio of 12.38 and a beta of 1.31. Popular has a 1-year low of $32.04 and a 1-year high of $45.96.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). The company had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $513.85 million. Popular had a return on equity of 5.70% and a net margin of 9.98%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. equities analysts predict that Popular will post 2.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 4th. Popular’s dividend payout ratio is presently 50.76%.

A number of research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Barclays raised shares of Popular from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Thursday, October 26th. ValuEngine raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods raised shares of Popular from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 28th. Finally, Compass Point raised shares of Popular from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $46.75.

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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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