ETRADE Capital Management LLC grew its stake in shares of Popular Inc (NASDAQ:BPOP) by 85.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,318 shares of the bank’s stock after acquiring an additional 6,129 shares during the quarter. ETRADE Capital Management LLC’s holdings in Popular were worth $554,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Popular by 49.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,797 shares of the bank’s stock valued at $206,000 after acquiring an additional 1,910 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Popular in the 4th quarter worth about $209,000. Invictus RG bought a new stake in Popular in the 4th quarter worth about $228,000. Quantitative Systematic Strategies LLC bought a new stake in Popular in the 4th quarter worth about $247,000. Finally, M&T Bank Corp increased its holdings in Popular by 29.3% in the 4th quarter. M&T Bank Corp now owns 7,485 shares of the bank’s stock worth $266,000 after buying an additional 1,695 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.
Several research firms recently commented on BPOP. BTIG Research reiterated a “buy” rating on shares of Popular in a report on Tuesday, January 23rd. BidaskClub upgraded Popular from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, February 21st. Morgan Stanley lifted their price objective on Popular from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, April 30th. Finally, Barclays lifted their price objective on Popular from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, April 25th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $50.06.
Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, April 24th. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.13. The business had revenue of $506.54 million during the quarter, compared to the consensus estimate of $497.70 million. Popular had a return on equity of 5.29% and a net margin of 4.74%. During the same period in the previous year, the company posted $0.89 EPS. equities research analysts anticipate that Popular Inc will post 4.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Tuesday, May 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. Popular’s dividend payout ratio is currently 37.31%.
Popular Company Profile
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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