On June 19, 2023, financial news outlets reported that Natixis had purchased a new position in Popular, Inc. (NASDAQ:BPOP) during the fourth quarter of 2022. According to the company’s most recent filing with the Securities and Exchange Commission (SEC), Natixis had acquired 186,400 shares of the bank’s stock, which were valued at approximately $12,362,000. As a result of this transaction, Natixis now owns about 0.26% of Popular as of its latest SEC filing.
This news comes on the heels of Popular’s latest quarterly earnings report, which was announced on April 26th, 2023. During this quarter, the bank reported an earnings per share (EPS) figure of $2.22 – surpassing analysts’ consensus estimates by $0.18. Meanwhile, Popular generated revenues of $693.62 million during this same period – a modest increase from the previous year.
Popular is a bank that specializes in providing retail and commercial banking products and services throughout Puerto Rico, the United States, and British Virgin Islands. Some of its most popular offerings include savings accounts, money market accounts, non-interest bearing demand deposits and certificates of deposit.
While these developments might seem like little more than minute fluctuations in the world of finance, they serve to highlight some significant trends that are currently shaping global markets.
Firstly, investments in banking equities continue to be an attractive proposition for both institutional investors such as Natixis and individual traders alike; this is particularly evident in light of Popular’s stellar earnings report for Q1 2023.
Secondly – despite concerns regarding regional instability – it appears that Puerto Rico continues to be viewed as a viable destination for foreign capital investment; indeed it is one among many similar areas becoming evermore important in viewing their potential through an increasingly eclectic portfolio investing lens.
Overall then there are certainly fascinating times ahead in the financial world, and keeping abreast of unfolding developments can serve novice investors and veteran traders alike well. As always, it remains worth following the most in-depth analysis possible to best navigate this ever-fluctuating landscape.
[bs_slider_forecast ticker=”BPOP”]
Institutional Investors Making Moves: Popular, Inc. (BPOP) Stock Overview and Recent Developments
Institutional investors have been making moves with Popular, Inc. (BPOP) over the past few quarters, according to recent reports. In the fourth quarter of 2022, International Assets Investment Management LLC and Emerald Mutual Fund Advisers Trust both acquired new positions in shares of Popular. International Assets added $43,000 worth of shares while Emerald invested $79,000.
In addition to the newcomers, Covestor Ltd and Lazard Asset Management LLC increased their holdings by 68.9% and 51.9%, respectively, in the first quarter of 2023. They now own 1,096 and 1,121 shares worth $90,000 and $91,000.
Despite these moves by institutional investors, hedge funds still own the majority of Popular’s stock at 86.01%.
Popular stock opened at $61.55 on Monday with a market cap of $4.43 billion, a P/E ratio of 4.32 and a beta of 0.82– one year low was at $49.34 and one-year high at$83.22.The firm has a fifty-day moving average of $58.90and a two-hundred-day moving average at$62.80.
Popular is known for providing various retail, mortgage and commercial banking products and services in Puerto Rico,the United States,and British Virgin Islands.It offers saving accounts,NOW accounts,money market accounts,certificates of deposit,and other interest-bearing demand deposists alongside non-interest bearing deposits
The company recently declared that it will pay out a quarterly dividend to its shareholders on Monday, July 3rd.The ex-dividend date for this dividend is Wednesday May31st shareholders who were listed as owning BPOP prior that date will receive a cash dividend payment valued at $.55 representing an annualized payout rate of$2/20 ,and a dividend yield rateof3/57%
Several research firms have recently assessed BPOP.StockNews.com began coverage of the stock on May 18 with a hold raring while Royal Bank of Canada and UBS Group reduced their price targets from $74 to$64 and from $100 to$57, respectively. Lastly,Keefe,Bruyette&Woods has upgraded Popular from a “Market Perform”rating to an”Outperform”rated with a consensus price target rate of$70.00