Trade Report: The BlackRock Advisors LLC Reached $1,667,000 position of Popular Inc. (BPOP)

The BlackRock Advisors LLC Reached $1,667,000 position  of Popular Inc. (BPOP)

BlackRock Advisors LLC increased its stake in shares of Popular Inc. (NASDAQ:BPOP) by 9.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 56,900 shares of the company’s stock after buying an additional 4,879 shares during the period. BlackRock Advisors LLC owned approximately 0.05% of Popular worth $1,667,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BPOP. Panagora Asset Management Inc. raised its position in shares of Popular by 8.3% in the first quarter. Panagora Asset Management Inc. now owns 174,854 shares of the company’s stock valued at $5,003,000 after buying an additional 13,392 shares during the last quarter. Price Michael F raised its position in shares of Popular by 8.8% in the first quarter. Price Michael F now owns 310,000 shares of the company’s stock valued at $8,869,000 after buying an additional 25,000 shares during the last quarter. Stilwell Value LLC raised its position in shares of Popular by 200.0% in the first quarter. Stilwell Value LLC now owns 37,500 shares of the company’s stock valued at $1,073,000 after buying an additional 25,000 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Popular by 0.4% in the first quarter. Wellington Management Group LLP now owns 2,086,463 shares of the company’s stock valued at $59,694,000 after buying an additional 9,249 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Popular by 2.5% in the first quarter. Geode Capital Management LLC now owns 680,946 shares of the company’s stock valued at $19,481,000 after buying an additional 16,552 shares during the last quarter. Hedge funds and other institutional investors own 84.10% of the company’s stock.

Shares of Popular Inc. (NASDAQ:BPOP) opened at 36.54 on Friday. The company has a market cap of $3.79 billion, a P/E ratio of 10.64 and a beta of 1.73. The firm has a 50-day moving average price of $38.28 and a 200 day moving average price of $33.57. Popular Inc. has a 12 month low of $22.40 and a 12 month high of $39.88.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, October 25th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by $0.44. Popular had a net margin of 17.25% and a return on equity of 7.03%. During the same period in the prior year, the company posted $0.82 EPS. Equities analysts predict that Popular Inc. will post $3.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, September 7th. Popular’s dividend payout ratio (DPR) is presently 17.54%.

BPOP has been the subject of several research reports. TheStreet raised Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. BTIG Research reaffirmed a “buy” rating and issued a $41.00 target price on shares of Popular in a research note on Tuesday, July 12th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $48.00 target price on shares of Popular in a research note on Friday, August 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Popular in a research note on Wednesday, October 12th. Finally, Zacks Investment Research lowered Popular from a “hold” rating to a “sell” rating in a research note on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.83.

In related news, EVP Eli Sepulveda sold 3,762 shares of Popular stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $36.97, for a total transaction of $139,081.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard L. Carrion sold 16,858 shares of Popular stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $37.44, for a total value of $631,163.52. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.

Popular Company 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.

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