Popular, Inc. (BPOP) Stake Increased by Prudential Financial Inc.

Prudential Financial Inc. raised its position in Popular, Inc. (NASDAQ:BPOP) by 63.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 903,755 shares of the bank’s stock after acquiring an additional 352,420 shares during the period. Prudential Financial Inc. owned approximately 0.89% of Popular worth $32,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Popular by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after purchasing an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Popular by 12.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock valued at $162,000 after purchasing an additional 423 shares in the last quarter. ETRADE Capital Management LLC purchased a new position in shares of Popular in the 2nd quarter valued at about $204,000. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Popular by 229.4% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock valued at $233,000 after purchasing an additional 3,900 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Popular by 2.8% in the 2nd quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock valued at $241,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.

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Several equities analysts have weighed in on the stock. upgraded shares of Popular from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. Barclays PLC raised their target price on shares of Popular from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Piper Jaffray Companies restated a “buy” rating and set a $50.50 target price on shares of Popular in a report on Wednesday, November 1st. upgraded shares of Popular from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, downgraded shares of Popular from a “buy” rating to a “sell” rating in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Popular has an average rating of “Hold” and an average price target of $46.75.

Shares of Popular, Inc. (NASDAQ:BPOP) opened at $33.20 on Wednesday. Popular, Inc. has a 12-month low of $32.04 and a 12-month high of $45.96. The stock has a market cap of $3,338.30, a P/E ratio of 11.36 and a beta of 1.33.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 31st. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). The company had revenue of $478.50 million during the quarter, compared to analyst estimates of $513.85 million. Popular had a return on equity of 5.70% and a net margin of 9.98%. Popular’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. research analysts anticipate that Popular, Inc. will post 2.45 EPS for the current fiscal year.

About Popular

Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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