QS Investors LLC Has $2.69 Million Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

QS Investors LLC raised its holdings in Popular, Inc. (NASDAQ:BPOP) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,895 shares of the bank’s stock after purchasing an additional 2,101 shares during the quarter. QS Investors LLC’s holdings in Popular were worth $2,694,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BPOP. Ameriprise Financial Inc. lifted its stake in shares of Popular by 14.5% in the 1st quarter. Ameriprise Financial Inc. now owns 2,776,838 shares of the bank’s stock valued at $195,272,000 after acquiring an additional 351,097 shares during the last quarter. Rubric Capital Management LP lifted its stake in shares of Popular by 370.9% in the 1st quarter. Rubric Capital Management LP now owns 425,835 shares of the bank’s stock valued at $29,945,000 after acquiring an additional 335,403 shares during the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of Popular in the 1st quarter valued at $17,907,000. Arctis Global LLC lifted its stake in shares of Popular by 30.6% in the 1st quarter. Arctis Global LLC now owns 1,023,348 shares of the bank’s stock valued at $71,962,000 after acquiring an additional 239,708 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Popular by 138.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 380,054 shares of the bank’s stock valued at $28,523,000 after acquiring an additional 220,651 shares during the last quarter. 87.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:BPOP opened at $79.00 on Thursday. The firm has a market cap of $6.37 billion, a P/E ratio of 8.00 and a beta of 1.20. Popular, Inc. has a 12-month low of $38.05 and a 12-month high of $83.72. The business has a fifty day simple moving average of $76.19 and a 200 day simple moving average of $75.68.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, July 22nd. The bank reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.63. The business had revenue of $642.34 million during the quarter, compared to analyst estimates of $621.34 million. Popular had a return on equity of 13.99% and a net margin of 30.89%. During the same period last year, the company earned $1.49 EPS. On average, equities analysts anticipate that Popular, Inc. will post 10.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 10th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, September 9th. Popular’s dividend payout ratio is currently 30.66%.

Separately, Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Monday, October 4th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $79.67.

In other news, VP Javier D. Ferrer sold 9,500 shares of Popular stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $76.30, for a total value of $724,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria Luisa Ferre sold 2,171 shares of the firm’s stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $75.81, for a total value of $164,583.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,352 shares of company stock valued at $3,157,225. Corporate insiders own 1.69% of the company’s stock.

Popular Company Profile

Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico and Popular U.S. The Banco Popular de Puerto Rico segment includes retail, mortgage and commercial banking services.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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