Jacobs Levy Equity Management Inc. lifted its stake in Popular Inc (NASDAQ:BPOP) by 6.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 428,933 shares of the bank’s stock after acquiring an additional 26,190 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Popular were worth $22,360,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Hanseatic Management Services Inc. raised its stake in shares of Popular by 18.9% in the 1st quarter. Hanseatic Management Services Inc. now owns 3,218 shares of the bank’s stock valued at $168,000 after acquiring an additional 512 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of Popular by 10.3% in the 1st quarter. First Republic Investment Management Inc. now owns 5,526 shares of the bank’s stock valued at $288,000 after acquiring an additional 514 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Popular by 3.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 17,136 shares of the bank’s stock valued at $893,000 after acquiring an additional 528 shares in the last quarter. ClariVest Asset Management LLC increased its position in Popular by 0.9% in the 4th quarter. ClariVest Asset Management LLC now owns 68,600 shares of the bank’s stock worth $3,239,000 after buying an additional 600 shares during the period. Finally, Captrust Financial Advisors bought a new position in Popular in the 4th quarter worth approximately $30,000. 89.49% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the company. BidaskClub downgraded Popular from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Zacks Investment Research raised Popular from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, April 23rd. Finally, BTIG Research lifted their price target on Popular to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.71.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, April 18th. The bank reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.24. The business had revenue of $607.39 million for the quarter, compared to analysts’ expectations of $603.70 million. Popular had a return on equity of 10.58% and a net margin of 24.69%. During the same period in the previous year, the business posted $0.89 earnings per share. Sell-side analysts expect that Popular Inc will post 6.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, May 24th. Popular’s dividend payout ratio is presently 25.16%.
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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