Raymond James & Associates Grows Stake in Popular, Inc. (NASDAQ:BPOP)

Raymond James & Associates lifted its position in Popular, Inc. (NASDAQ:BPOPGet Rating) by 13.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 29,993 shares of the bank’s stock after purchasing an additional 3,531 shares during the period. Raymond James & Associates’ holdings in Popular were worth $2,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of BPOP. Goldman Sachs Group Inc. lifted its position in Popular by 394.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,108,132 shares of the bank’s stock valued at $85,249,000 after purchasing an additional 883,818 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Popular by 83.6% during the second quarter. JPMorgan Chase & Co. now owns 385,891 shares of the bank’s stock valued at $29,687,000 after purchasing an additional 175,710 shares in the last quarter. Wells Fargo & Company MN lifted its position in Popular by 236.8% during the second quarter. Wells Fargo & Company MN now owns 205,369 shares of the bank’s stock valued at $15,800,000 after purchasing an additional 144,385 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Popular during the second quarter valued at $10,173,000. Finally, Bank of America Corp DE lifted its position in Popular by 31.1% during the first quarter. Bank of America Corp DE now owns 491,752 shares of the bank’s stock valued at $40,195,000 after purchasing an additional 116,682 shares in the last quarter. 86.01% of the stock is currently owned by hedge funds and other institutional investors.

Popular Trading Up 2.3 %

Shares of BPOP stock opened at $68.83 on Monday. Popular, Inc. has a 12-month low of $62.55 and a 12-month high of $95.28. The stock’s 50-day moving average price is $67.68 and its 200-day moving average price is $72.89. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 5.01 and a beta of 0.87.

Popular (NASDAQ:BPOPGet Rating) last issued its earnings results on Wednesday, October 26th. The bank reported $5.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $3.17. Popular had a return on equity of 22.68% and a net margin of 32.87%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $709.10 million. As a group, research analysts predict that Popular, Inc. will post 13.91 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Wednesday, December 7th were issued a $0.55 dividend. The ex-dividend date was Tuesday, December 6th. This represents a $2.20 annualized dividend and a dividend yield of 3.20%. Popular’s dividend payout ratio (DPR) is 16.01%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company lowered their target price on Popular from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, December 15th. Piper Sandler decreased their price target on Popular to $90.00 in a report on Tuesday, November 1st. UBS Group decreased their price target on Popular to $100.00 in a report on Wednesday, November 16th. Royal Bank of Canada decreased their price target on Popular from $91.00 to $80.00 in a report on Thursday, October 27th. Finally, StockNews.com cut Popular from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th.

Popular Profile

(Get Rating)

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, Popular U.S., and Corporate Group. The Banco Popular de Puerto Rico segment includes commercial banking, consumer and retail banking, and other financial services.

See Also

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:BPOPGet Rating).

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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