Popular, Inc. (NASDAQ:BPOP) Position Increased by Northern Trust Corp

Northern Trust Corp lifted its holdings in Popular, Inc. (NASDAQ:BPOP) by 13.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 535,540 shares of the bank’s stock after purchasing an additional 63,019 shares during the period. Northern Trust Corp’s holdings in Popular were worth $50,373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BPOP. CIBC Asset Management Inc boosted its stake in Popular by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock valued at $211,000 after acquiring an additional 112 shares during the period. Picton Mahoney Asset Management boosted its position in Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 118 shares during the period. Arizona State Retirement System increased its position in Popular by 0.7% in the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock worth $1,971,000 after buying an additional 143 shares during the period. Treasurer of the State of North Carolina lifted its stake in Popular by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank’s stock valued at $2,949,000 after buying an additional 190 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Popular by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank’s stock valued at $2,888,000 after acquiring an additional 214 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Down 0.0 %

Shares of NASDAQ:BPOP opened at $99.03 on Thursday. The company has a market cap of $6.87 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The company’s fifty day moving average is $90.52 and its two-hundred day moving average is $95.13. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $106.81.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $1.43 EPS. Equities research analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a $0.70 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.83%. Popular’s dividend payout ratio is currently 28.90%.

Analysts Set New Price Targets

A number of analysts recently weighed in on BPOP shares. StockNews.com downgraded shares of Popular from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price objective on Popular from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Barclays reiterated an “overweight” rating and set a $125.00 price target (up previously from $115.00) on shares of Popular in a research report on Thursday, April 24th. Wells Fargo & Company raised shares of Popular from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $110.00 to $100.00 in a report on Wednesday, April 9th. Finally, Royal Bank of Canada boosted their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Popular currently has an average rating of “Moderate Buy” and a consensus price target of $111.14.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.