TIAA CREF Investment Management LLC decreased its stake in Popular Inc (NASDAQ:BPOP) by 37.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,380 shares of the bank’s stock after selling 130,886 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.21% of Popular worth $7,786,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in Popular by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after buying an additional 200 shares in the last quarter. M&T Bank Corp boosted its stake in Popular by 29.3% in the 4th quarter. M&T Bank Corp now owns 7,485 shares of the bank’s stock valued at $266,000 after buying an additional 1,695 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Popular by 49.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,797 shares of the bank’s stock valued at $206,000 after buying an additional 1,910 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Popular by 17.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 13,432 shares of the bank’s stock valued at $477,000 after buying an additional 2,001 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Popular by 3.9% in the 3rd quarter. Stifel Financial Corp now owns 54,495 shares of the bank’s stock valued at $1,967,000 after buying an additional 2,030 shares in the last quarter. 91.56% of the stock is currently owned by institutional investors and hedge funds.
BPOP stock opened at $43.24 on Thursday. The firm has a market cap of $4,389.93, a PE ratio of 16.09 and a beta of 1.11. Popular Inc has a twelve month low of $32.04 and a twelve month high of $46.83.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, January 23rd. The bank reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.22. The company had revenue of $473.35 million during the quarter. Popular had a return on equity of 5.29% and a net margin of 4.89%. research analysts forecast that Popular Inc will post 3.89 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Popular’s payout ratio is currently 37.31%.
BPOP has been the subject of several research analyst reports. Citigroup lifted their price objective on Popular from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. BTIG Research reiterated a “buy” rating on shares of Popular in a research report on Tuesday, January 23rd. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, February 21st. Sandler O’Neill set a $48.00 price objective on Popular and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods set a $49.00 price objective on Popular and gave the company a “buy” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Popular has a consensus rating of “Buy” and a consensus target price of $48.31.
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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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