California State Teachers Retirement System decreased its stake in Popular Inc (NASDAQ:BPOP) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,311 shares of the bank’s stock after selling 17,398 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Popular worth $6,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stifel Financial Corp lifted its stake in shares of Popular by 3.9% in the third quarter. Stifel Financial Corp now owns 54,495 shares of the bank’s stock valued at $1,967,000 after purchasing an additional 2,030 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Popular during the third quarter worth about $355,000. Salzhauer Michael raised its position in Popular by 109.8% during the third quarter. Salzhauer Michael now owns 22,924 shares of the bank’s stock worth $824,000 after acquiring an additional 12,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Popular by 7.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 650,342 shares of the bank’s stock worth $23,374,000 after acquiring an additional 43,990 shares during the last quarter. Finally, Investec Asset Management LTD raised its position in Popular by 270.1% during the third quarter. Investec Asset Management LTD now owns 3,640,138 shares of the bank’s stock worth $130,827,000 after acquiring an additional 2,656,548 shares during the last quarter. Hedge funds and other institutional investors own 88.94% of the company’s stock.

Popular Inc (NASDAQ:BPOP) opened at $35.49 on Monday. The stock has a market cap of $3,620.90, a PE ratio of 18.02 and a beta of 1.31. Popular Inc has a 52-week low of $32.04 and a 52-week high of $45.96.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, December 4th. Popular’s dividend payout ratio is presently 50.76%.

A number of brokerages have issued reports on BPOP. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Barclays lifted their target price on shares of Popular from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. BTIG Research upgraded shares of Popular from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods upgraded shares of Popular from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. Finally, Citigroup began coverage on shares of Popular in a research report on Thursday, December 21st. They set a “buy” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Popular currently has an average rating of “Hold” and an average target price of $46.50.

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Popular Profile

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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