Dupont Capital Management Corp bought a new stake in Popular, Inc. (NASDAQ:BPOP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,567 shares of the bank’s stock, valued at approximately $1,189,000.
Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Popular by 49.1% in the fourth 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. State of Alaska Department of Revenue bought a new position in Popular in the fourth quarter valued at about $209,000. Invictus RG bought a new position in Popular in the fourth quarter valued at about $228,000. Quantitative Systematic Strategies LLC bought a new position in Popular in the fourth quarter valued at about $247,000. Finally, M&T Bank Corp boosted its holdings in Popular by 29.3% in the fourth quarter. M&T Bank Corp now owns 7,485 shares of the bank’s stock valued at $266,000 after acquiring an additional 1,695 shares during the last quarter. Institutional investors own 92.83% of the company’s stock.
Shares of Popular opened at $45.75 on Friday, according to Marketbeat Ratings. Popular, Inc. has a 1 year low of $45.65 and a 1 year high of $47.43. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 17.51 and a beta of 1.09.
Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, April 24th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.13. Popular had a return on equity of 5.25% and a net margin of 4.74%. The firm had revenue of $506.54 million for the quarter, compared to analysts’ expectations of $497.70 million. During the same quarter last year, the business earned $0.89 earnings per share. sell-side analysts expect that Popular, Inc. will post 4.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Tuesday, May 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, May 25th. Popular’s dividend payout ratio (DPR) is currently 37.31%.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Popular from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. BTIG Research reiterated a “buy” rating and issued a $46.00 price target on shares of Popular in a report on Wednesday, April 18th. Keefe, Bruyette & Woods set a $49.00 price target on Popular and gave the company a “buy” rating in a report on Thursday, February 15th. Citigroup raised their price target on Popular from $47.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research cut Popular from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $50.06.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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