Heartland Advisors Inc. raised its stake in shares of Popular Inc (NASDAQ:BPOP) by 39.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,311 shares of the bank’s stock after purchasing an additional 3,506 shares during the quarter. Heartland Advisors Inc.’s holdings in Popular were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Brandes Investment Partners LP bought a new stake in Popular during the fourth quarter valued at approximately $8,272,000. Jane Street Group LLC lifted its position in Popular by 19.3% during the fourth quarter. Jane Street Group LLC now owns 24,711 shares of the bank’s stock valued at $877,000 after purchasing an additional 3,999 shares during the last quarter. M&T Bank Corp lifted its position in Popular by 29.3% during the fourth quarter. M&T Bank Corp now owns 7,485 shares of the bank’s stock valued at $266,000 after purchasing an additional 1,695 shares during the last quarter. Two Sigma Advisers LP lifted its position in Popular by 9.8% during the fourth quarter. Two Sigma Advisers LP now owns 178,545 shares of the bank’s stock valued at $6,337,000 after purchasing an additional 15,916 shares during the last quarter. Finally, Minneapolis Portfolio Management Group LLC lifted its position in Popular by 5.5% during the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 508,951 shares of the bank’s stock valued at $18,063,000 after purchasing an additional 26,535 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.
Shares of BPOP opened at $46.80 on Monday. The company has a market capitalization of $4.79 billion, a PE ratio of 17.46 and a beta of 1.09. Popular Inc has a fifty-two week low of $32.04 and a fifty-two week high of $48.11.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Tuesday, May 29th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, May 25th. Popular’s payout ratio is 37.31%.
Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Popular from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, April 30th. ValuEngine lowered shares of Popular from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Barclays boosted their price objective on shares of Popular from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, April 25th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $51.00 price objective on shares of Popular in a report on Wednesday, April 25th. Finally, Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective for the company in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Popular presently has a consensus rating of “Buy” and an average target price of $50.06.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. 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, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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