11,386 Shares in Popular Inc (BPOP) Purchased by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC bought a new stake in Popular Inc (NASDAQ:BPOP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,386 shares of the bank’s stock, valued at approximately $594,000.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc raised its stake in shares of Popular by 4.5% during the third quarter. Vanguard Group Inc now owns 9,585,130 shares of the bank’s stock valued at $491,239,000 after acquiring an additional 412,087 shares during the last quarter. Polaris Capital Management LLC raised its stake in Popular by 4.5% during the fourth quarter. Polaris Capital Management LLC now owns 4,187,495 shares of the bank’s stock worth $197,734,000 after buying an additional 178,824 shares during the last quarter. Norges Bank bought a new position in Popular during the fourth quarter worth $64,758,000. Bank of New York Mellon Corp raised its stake in Popular by 108.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,076,845 shares of the bank’s stock worth $50,847,000 after buying an additional 559,566 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in Popular by 5,001.3% during the fourth quarter. APG Asset Management N.V. now owns 790,700 shares of the bank’s stock worth $32,661,000 after buying an additional 775,200 shares during the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.
In other Popular news, insider Carlos J. Vazquez sold 4,000 shares of Popular stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $55.48, for a total value of $221,920.00. Following the completion of the sale, the insider now directly owns 106,352 shares of the company’s stock, valued at $5,900,408.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Maria Luisa Ferre sold 3,046 shares of Popular stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $56.43, for a total transaction of $171,885.78. Following the completion of the sale, the director now directly owns 34,224 shares of the company’s stock, valued at $1,931,260.32. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.
Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, April 18th. The bank reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. Popular had a net margin of 24.69% and a return on equity of 10.58%. The business had revenue of $607.39 million during the quarter, compared to the consensus estimate of $603.70 million. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, analysts anticipate that Popular Inc will post 6.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Tuesday, May 28th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, May 24th. Popular’s dividend payout ratio (DPR) is currently 25.16%.
A number of brokerages recently weighed in on BPOP. BidaskClub raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research raised shares of Popular from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Tuesday, April 23rd. Finally, BTIG Research lifted their target price on shares of Popular to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $59.71.
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Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. 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, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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