Popular Inc (BPOP) Holdings Raised by GAM Holding AG

GAM Holding AG boosted its holdings in shares of Popular Inc (NASDAQ:BPOP) by 46.6% in the 3rd quarter, Holdings Channel reports. The firm owned 28,433 shares of the bank’s stock after buying an additional 9,043 shares during the period. GAM Holding AG’s holdings in Popular were worth $1,457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BPOP. EJF Capital LLC bought a new stake in Popular during the second quarter worth $18,527,000. Martingale Asset Management L P lifted its stake in Popular by 74.8% during the second quarter. Martingale Asset Management L P now owns 785,567 shares of the bank’s stock worth $35,516,000 after purchasing an additional 336,219 shares during the last quarter. FMR LLC lifted its stake in Popular by 4.2% during the third quarter. FMR LLC now owns 4,581,966 shares of the bank’s stock worth $234,826,000 after purchasing an additional 185,160 shares during the last quarter. Monarch Partners Asset Management LLC lifted its stake in Popular by 78.2% during the second quarter. Monarch Partners Asset Management LLC now owns 330,130 shares of the bank’s stock worth $14,925,000 after purchasing an additional 144,890 shares during the last quarter. Finally, Investec Asset Management LTD lifted its stake in Popular by 5.8% during the second quarter. Investec Asset Management LTD now owns 2,598,427 shares of the bank’s stock worth $117,475,000 after purchasing an additional 143,167 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

In other news, insider Juan Guerrero sold 6,000 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $53.31, for a total value of $319,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.27% of the stock is currently owned by corporate insiders.



Several equities research analysts have weighed in on BPOP shares. Citigroup upped their target price on Popular from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 25th. ValuEngine upgraded Popular from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. BidaskClub upgraded Popular from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. Finally, Zacks Investment Research upgraded Popular from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a research note on Friday, October 26th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $54.88.

Shares of BPOP opened at $53.34 on Thursday. Popular Inc has a 52 week low of $34.20 and a 52 week high of $58.55. The firm has a market capitalization of $5.35 billion, a PE ratio of 19.90 and a beta of 1.04.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, October 24th. The bank reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.20. Popular had a return on equity of 8.13% and a net margin of 16.32%. The company had revenue of $602.49 million during the quarter, compared to analysts’ expectations of $586.10 million. During the same period in the prior year, the company earned $0.19 EPS. On average, sell-side analysts predict that Popular Inc will post 4.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, December 4th. Popular’s payout ratio is 37.31%.

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Popular Profile

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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Want to see what other hedge funds are holding BPOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Popular Inc (NASDAQ:BPOP).

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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