First Mercantile Trust Co. grew its stake in Popular, Inc. (NASDAQ:BPOP) by 91.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,813 shares of the bank’s stock after acquiring an additional 4,693 shares during the quarter. First Mercantile Trust Co.’s holdings in Popular were worth $408,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Popular by 49.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,797 shares of the bank’s stock worth $206,000 after acquiring an additional 1,910 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Popular in the fourth quarter worth $209,000. Invictus RG bought a new stake in Popular in the fourth quarter worth $228,000. Quantitative Systematic Strategies LLC bought a new stake in Popular in the fourth quarter worth $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 worth $266,000 after acquiring an additional 1,695 shares in the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on BPOP shares. BTIG Research restated a “buy” rating and issued a $46.00 price target on shares of Popular in a research note on Wednesday, April 18th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $51.00 price target on shares of Popular in a research note on Wednesday, April 25th. Citigroup boosted their price target on Popular from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. BidaskClub upgraded Popular from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $50.06.
Popular opened at $47.10 on Friday, MarketBeat Ratings reports. Popular, Inc. has a 1-year low of $46.50 and a 1-year high of $46.83. The firm has a market capitalization of $4.80 billion, a PE ratio of 17.59 and a beta of 1.09.
Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, April 24th. The bank reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.13. The firm had revenue of $506.54 million during the quarter, compared to analysts’ expectations of $497.70 million. Popular had a return on equity of 5.29% and a net margin of 4.74%. During the same quarter in the previous year, the business earned $0.89 earnings per share. research analysts expect that Popular, Inc. will post 4.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Tuesday, May 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, May 25th. Popular’s dividend payout ratio (DPR) is presently 37.31%.
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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