Engineers Gate Manager LP Increases Holdings in Popular, Inc. (BPOP)

Engineers Gate Manager LP lifted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 238.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,068 shares of the bank’s stock after buying an additional 107,844 shares during the period. Popular comprises about 0.5% of Engineers Gate Manager LP’s holdings, making the stock its 22nd largest position. Engineers Gate Manager LP owned approximately 0.15% of Popular worth $5,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Popular by 3.7% during the second quarter. JPMorgan Chase & Co. now owns 1,512,775 shares of the bank’s stock valued at $63,098,000 after buying an additional 53,446 shares during the last quarter. BlackRock Inc. boosted its position in shares of Popular by 12.7% during the second quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock valued at $209,937,000 after buying an additional 567,642 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Popular by 36.1% during the second quarter. Prudential Financial Inc. now owns 551,335 shares of the bank’s stock valued at $22,996,000 after buying an additional 146,370 shares during the last quarter. Royce & Associates LP boosted its position in shares of Popular by 35.1% during the second quarter. Royce & Associates LP now owns 223,300 shares of the bank’s stock valued at $9,314,000 after buying an additional 58,000 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Popular by 58.5% during the second quarter. Royal Bank of Canada now owns 90,040 shares of the bank’s stock valued at $3,756,000 after buying an additional 33,229 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors.

Popular, Inc. (BPOP) opened at $35.32 on Tuesday. Popular, Inc. has a 1 year low of $32.04 and a 1 year high of $45.96. The firm has a market capitalization of $3,636.22, a price-to-earnings ratio of 12.38 and a beta of 1.31.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, October 31st. The bank reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.76). Popular had a return on equity of 5.70% and a net margin of 9.98%. The business had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $513.85 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. analysts anticipate that Popular, Inc. will post 2.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $1.00 annualized dividend and a yield of 2.83%. Popular’s dividend payout ratio is currently 50.76%.

Several brokerages recently issued reports on BPOP. ValuEngine raised Popular from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research cut Popular from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods raised Popular from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. Barclays lifted their target price on Popular from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $50.50 target price on shares of Popular in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Popular has a consensus rating of “Hold” and a consensus price target of $46.75.

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Popular Profile

Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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