Wedge Capital Management L L P NC increased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 17,525 shares of the bank’s stock after buying an additional 75 shares during the period. Wedge Capital Management L L P NC’s holdings in Popular were worth $731,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of BPOP. Suntrust Banks Inc. raised its stake in shares of Popular by 0.9% in the first quarter. Suntrust Banks Inc. now owns 16,965 shares of the bank’s stock worth $690,000 after buying an additional 153 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Popular by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 558,663 shares of the bank’s stock worth $22,756,000 after buying an additional 7,375 shares in the last quarter. US Bancorp DE raised its stake in shares of Popular by 3.2% in the first quarter. US Bancorp DE now owns 14,031 shares of the bank’s stock worth $572,000 after buying an additional 440 shares in the last quarter. Capital Fund Management S.A. raised its stake in shares of Popular by 116.7% in the first quarter. Capital Fund Management S.A. now owns 126,997 shares of the bank’s stock worth $5,173,000 after buying an additional 68,380 shares in the last quarter. Finally, Flinton Capital Management LLC raised its stake in shares of Popular by 182.4% in the first quarter. Flinton Capital Management LLC now owns 37,536 shares of the bank’s stock worth $1,529,000 after buying an additional 24,242 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.
Popular, Inc. (BPOP) opened at 39.83 on Friday. Popular, Inc. has a one year low of $35.08 and a one year high of $45.96. The stock’s 50 day moving average is $41.52 and its 200-day moving average is $41.00. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 17.99 and a beta of 1.28.
Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 26th. The bank reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The company had revenue of $491.27 million for the quarter, compared to analyst estimates of $500.66 million. During the same quarter last year, the firm earned $0.85 EPS. On average, equities research analysts expect that Popular, Inc. will post $3.84 earnings per share for the current fiscal year.
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A number of analysts have weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 target price on shares of Popular in a research report on Friday, July 28th. TheStreet upgraded shares of Popular from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. Zacks Investment Research lowered shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Morgan Stanley restated an “equal weight” rating and issued a $43.00 target price (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Finally, BidaskClub upgraded shares of Popular from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Popular has a consensus rating of “Hold” and an average price target of $47.83.
About Popular
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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