State Board of Administration of Florida Retirement System Trims Position in Popular, Inc. (NASDAQ:BPOP)

State Board of Administration of Florida Retirement System lessened its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 6.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,448 shares of the bank’s stock after selling 7,680 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Popular worth $9,040,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BPOP. Dimensional Fund Advisors LP increased its position in shares of Popular by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,207,127 shares of the bank’s stock worth $296,479,000 after purchasing an additional 134,439 shares during the last quarter. BlackRock Inc. increased its position in shares of Popular by 6.3% in the first quarter. BlackRock Inc. now owns 3,923,144 shares of the bank’s stock worth $275,876,000 after purchasing an additional 231,143 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Popular by 14.5% in the first quarter. Ameriprise Financial Inc. now owns 2,776,838 shares of the bank’s stock worth $195,272,000 after purchasing an additional 351,097 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Popular by 7.0% in the first quarter. Geode Capital Management LLC now owns 1,248,032 shares of the bank’s stock worth $87,761,000 after purchasing an additional 81,107 shares during the last quarter. Finally, Arctis Global LLC increased its position in shares of Popular by 30.6% in the first quarter. Arctis Global LLC now owns 1,023,348 shares of the bank’s stock worth $71,962,000 after purchasing an additional 239,708 shares during the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.

BPOP stock opened at $71.91 on Tuesday. The company’s 50 day moving average is $74.16 and its 200 day moving average is $74.86. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 7.28 and a beta of 1.20. Popular, Inc. has a 1-year low of $34.30 and a 1-year high of $83.72.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Thursday, July 22nd. The bank reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.63. Popular had a net margin of 30.89% and a return on equity of 13.99%. The business had revenue of $642.34 million for the quarter, compared to analysts’ expectations of $621.34 million. During the same period last year, the business earned $1.49 earnings per share. Equities analysts anticipate that Popular, Inc. will post 10.1 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, September 9th. Popular’s payout ratio is currently 30.66%.

In other news, EVP Manuel Chinea sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $75.70, for a total transaction of $605,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos Unanue sold 6,681 shares of the stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $77.33, for a total value of $516,641.73. The disclosure for this sale can be found here. Insiders have sold 41,352 shares of company stock worth $3,157,225 over the last quarter. Company insiders own 1.69% of the company’s stock.

Popular Profile

Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico and Popular U.S. The Banco Popular de Puerto Rico segment includes retail, mortgage and commercial banking services.

See Also: Quick Ratio

Want to see what other hedge funds are holding BPOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Popular, Inc. (NASDAQ:BPOP).

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.