Qube Research & Technologies Ltd Buys Shares of 35,826 Popular, Inc. (NASDAQ:BPOP)

Qube Research & Technologies Ltd acquired a new stake in shares of Popular, Inc. (NASDAQ:BPOP) during the second quarter, according to its most recent filing with the SEC. The fund acquired 35,826 shares of the bank’s stock, valued at approximately $2,689,000.

Several other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Popular by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,207,127 shares of the bank’s stock valued at $296,479,000 after acquiring an additional 134,439 shares during the period. Ameriprise Financial Inc. increased its position in Popular by 14.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,776,838 shares of the bank’s stock valued at $195,272,000 after buying an additional 351,097 shares in the last quarter. Geode Capital Management LLC increased its position in Popular by 7.0% during the 1st quarter. Geode Capital Management LLC now owns 1,248,032 shares of the bank’s stock valued at $87,761,000 after buying an additional 81,107 shares in the last quarter. Arctis Global LLC increased its holdings 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 worth $71,962,000 after purchasing an additional 239,708 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Popular by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 929,002 shares of the bank’s stock worth $65,327,000 after purchasing an additional 38,607 shares in the last quarter. Institutional investors own 87.85% of the company’s stock.

Shares of BPOP stock opened at $79.00 on Thursday. Popular, Inc. has a 12-month low of $38.05 and a 12-month high of $83.72. The stock’s 50-day moving average price is $76.19 and its 200-day moving average price is $75.68. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 8.00 and a beta of 1.20.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, July 22nd. The bank reported $2.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.63. Popular had a return on equity of 13.99% and a net margin of 30.89%. The company had revenue of $642.34 million for the quarter, compared to analysts’ expectations of $621.34 million. During the same period in the previous year, the firm posted $1.49 earnings per share. As a group, research analysts forecast that Popular, Inc. will post 10.1 EPS for the current fiscal year.

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

In other Popular news, Director Carlos Unanue sold 6,681 shares of the company’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $77.33, for a total transaction of $516,641.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Manuel Chinea sold 8,000 shares of the company’s stock in a transaction on Wednesday, August 11th. The stock was sold at an average price of $75.70, for a total value of $605,600.00. The disclosure for this sale can be found here. Insiders have sold 41,352 shares of company stock valued at $3,157,225 in the last 90 days. Company insiders own 1.69% of the company’s stock.

Separately, Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock 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.

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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