Heartland Advisors Inc. lowered its stake in Popular, Inc. (NASDAQ:BPOP) by 24.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,805 shares of the bank’s stock after selling 2,816 shares during the quarter. Heartland Advisors Inc.’s holdings in Popular were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wedge Capital Management L L P NC lifted its holdings in shares of Popular by 0.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the bank’s stock valued at $731,000 after buying an additional 75 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Popular by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,326 shares of the bank’s stock valued at $347,000 after buying an additional 128 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Popular by 2.8% during the 2nd quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock valued at $241,000 after buying an additional 159 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Popular by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after buying an additional 200 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Popular by 0.4% during the 2nd quarter. Aperio Group LLC now owns 103,469 shares of the bank’s stock valued at $4,316,000 after buying an additional 380 shares during the last quarter. 85.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Popular, Inc. (NASDAQ BPOP) opened at 36.68 on Wednesday. The company has a market cap of $3.74 billion, a P/E ratio of 16.57 and a beta of 1.25. Popular, Inc. has a 12-month low of $32.04 and a 12-month high of $45.96. The company has a 50-day moving average price of $36.03 and a 200-day moving average price of $39.12.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Wednesday, September 13th. Popular’s dividend payout ratio (DPR) is presently 45.05%.

Several equities research analysts have recently issued reports on the company. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 price target on shares of Popular in a report on Friday, July 28th. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price objective (up from $42.00) on shares of Popular in a research note on Friday, July 7th. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Monday, July 10th. ValuEngine downgraded Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Barclays PLC dropped their price target on Popular from $47.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Popular currently has an average rating of “Hold” and a consensus price target of $46.33.

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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.

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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