Tower Research Capital LLC TRC grew its stake in shares of Popular, Inc. (NASDAQ:BPOP – Get Rating) by 1,466.2% during the third quarter, HoldingsChannel reports. The firm owned 4,166 shares of the bank’s stock after buying an additional 3,900 shares during the period. Tower Research Capital LLC TRC’s holdings in Popular were worth $300,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of BPOP. Private Trust Co. NA acquired a new position in shares of Popular during the second quarter worth about $26,000. Assetmark Inc. acquired a new position in shares of Popular in the third quarter worth about $27,000. Picton Mahoney Asset Management acquired a new position in shares of Popular in the third quarter worth about $62,000. Denali Advisors LLC acquired a new position in shares of Popular in the third quarter worth about $79,000. Finally, Covestor Ltd lifted its stake in shares of Popular by 68.9% in the first quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock worth $90,000 after acquiring an additional 447 shares in the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on BPOP shares. StockNews.com cut Popular from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Wells Fargo & Company cut their price target on Popular from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, December 15th. UBS Group cut their price target on Popular to $100.00 in a research note on Wednesday, November 16th. Royal Bank of Canada lowered their price objective on Popular from $80.00 to $75.00 in a report on Thursday, January 26th. Finally, Keefe, Bruyette & Woods lowered Popular from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $85.00 to $74.00 in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.80.
Popular Stock Down 0.1 %
Popular (NASDAQ:BPOP – Get Rating) last posted its earnings results on Wednesday, January 25th. The bank reported $3.56 EPS for the quarter, beating the consensus estimate of $2.75 by $0.81. The company had revenue of $559.57 million during the quarter, compared to analyst estimates of $730.82 million. Popular had a return on equity of 26.28% and a net margin of 32.75%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 earnings per share. As a group, equities research analysts anticipate that Popular, Inc. will post 8.63 earnings per share for the current year.
Popular Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 20th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, March 17th. Popular’s dividend payout ratio (DPR) is presently 14.95%.
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.
- Get a free copy of the StockNews.com research report on Popular (BPOP)
- Jack in the Box Pops On Tasty Results, Robust Outlook
- How Low Can Lowe’s Companies Go?
- Ambarella: An AI Play In The Making
- Wendy’s Price Firms After Sizzling Quarter And Juicy Outlook
- Terran Orbital’s New $2.4 Billion Contract is a Game Changer
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 – Get Rating).
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.