Franklin Resources Inc. raised its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 304.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,861 shares of the bank's stock after acquiring an additional 75,164 shares during the period. Franklin Resources Inc. owned about 0.14% of Popular worth $10,042,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of BPOP. Financial Management Professionals Inc. bought a new stake in shares of Popular in the 3rd quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in Popular during the third quarter worth about $35,000. Brooklyn Investment Group acquired a new stake in shares of Popular during the third quarter worth approximately $47,000. Meeder Asset Management Inc. bought a new position in shares of Popular in the second quarter valued at approximately $48,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Popular in the 3rd quarter worth approximately $81,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of BPOP stock opened at $91.66 on Friday. The firm's 50 day moving average price is $96.10 and its two-hundred day moving average price is $95.38. The stock has a market cap of $6.54 billion, a PE ratio of 12.45, a PEG ratio of 0.76 and a beta of 0.81. Popular, Inc. has a 52-week low of $79.01 and a 52-week high of $105.01.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing analysts' consensus estimates of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter in the prior year, the company posted $1.90 EPS. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $0.70 per share. This is a positive change from Popular's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.80 annualized dividend and a yield of 3.05%. Popular's dividend payout ratio (DPR) is presently 38.04%.
In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the transaction, the executive vice president now directly owns 25,115 shares of the company's stock, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company's stock.
Several equities analysts have issued reports on BPOP shares. Barclays lifted their price objective on Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday. Royal Bank of Canada decreased their price objective on shares of Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of Popular from $103.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Popular from $90.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $108.25.
Check Out Our Latest Research Report on Popular
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.
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