ClariVest Asset Management LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,600 shares of the bank’s stock after selling 1,300 shares during the quarter. ClariVest Asset Management LLC owned 0.09% of Popular worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brandes Investment Partners LP purchased a new stake in shares of Popular in the fourth quarter worth approximately $8,272,000. Jane Street Group LLC lifted its position in shares of Popular by 19.3% in the fourth quarter. Jane Street Group LLC now owns 24,711 shares of the bank’s stock worth $877,000 after purchasing an additional 3,999 shares in the last quarter. M&T Bank Corp lifted its position in shares of 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 purchasing an additional 1,695 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Popular by 9.8% in the fourth quarter. Two Sigma Advisers LP now owns 178,545 shares of the bank’s stock worth $6,337,000 after purchasing an additional 15,916 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC lifted its position in shares of Popular by 5.5% in the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 508,951 shares of the bank’s stock worth $18,063,000 after purchasing an additional 26,535 shares in the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub lowered shares of Popular from a “buy” rating to a “hold” rating in a research report on Thursday, April 19th. Morgan Stanley increased their price target on shares of Popular from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, April 30th. BTIG Research reissued a “buy” rating and issued a $46.00 price target on shares of Popular in a research report on Wednesday, April 18th. Finally, Barclays increased their price target on shares of Popular from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 25th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Popular currently has an average rating of “Buy” and a consensus target price of $50.06.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, April 24th. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.13. The firm had revenue of $506.54 million for the quarter, compared to analyst estimates of $497.70 million. Popular had a net margin of 4.74% and a return on equity of 5.29%. During the same quarter last year, the firm earned $0.89 earnings per share. equities analysts expect that Popular, Inc. will post 4.29 EPS for the current year.
The firm 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 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, May 25th. Popular’s payout ratio 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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