TCW Group Inc. grew its position in shares of Popular Inc (NASDAQ:BPOP) by 1.4% during the first quarter, Holdings Channel reports. The institutional investor owned 116,364 shares of the bank’s stock after buying an additional 1,592 shares during the quarter. TCW Group Inc.’s holdings in Popular were worth $6,067,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in Popular during the 4th quarter worth approximately $30,000. AdvisorNet Financial Inc acquired a new stake in shares of Popular during the 4th quarter worth approximately $52,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Popular during the 1st quarter worth approximately $72,000. Toronto Dominion Bank acquired a new stake in shares of Popular during the 4th quarter worth approximately $71,000. Finally, Enlightenment Research LLC acquired a new stake in shares of Popular during the 4th quarter worth approximately $85,000. 89.49% of the stock is currently owned by institutional investors.
Shares of Popular stock traded down $0.01 on Wednesday, reaching $53.41. 8,361 shares of the company were exchanged, compared to its average volume of 560,614. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 11.19 and a beta of 1.22. Popular Inc has a 1-year low of $44.22 and a 1-year high of $58.99.
Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. The business had revenue of $607.39 million for the quarter, compared to analysts’ expectations of $603.70 million. Popular had a return on equity of 10.58% and a net margin of 24.69%. During the same period in the prior year, the firm earned $0.89 EPS. As a group, research analysts forecast that Popular Inc will post 6.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Tuesday, May 28th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, May 24th. Popular’s dividend payout ratio is currently 25.16%.
A number of analysts have recently weighed in on the company. BidaskClub cut Popular from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research upgraded Popular from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, April 23rd. Finally, BTIG Research increased their price target on Popular to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Popular has an average rating of “Buy” and a consensus price target of $59.71.
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Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. 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, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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