Managed Account Services Inc. Buys Shares of 3,000 Popular, Inc. (NASDAQ:BPOP)

Managed Account Services Inc. purchased a new stake in Popular, Inc. (NASDAQ:BPOP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,000 shares of the bank’s stock, valued at approximately $225,000.

Several other large investors have also recently made changes to their positions in BPOP. Nkcfo LLC acquired a new position in shares of Popular during the second quarter valued at $90,000. Arkadios Wealth Advisors increased its stake in Popular by 2,353.3% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,840 shares of the bank’s stock valued at $138,000 after buying an additional 1,765 shares during the period. Quantbot Technologies LP bought a new stake in shares of Popular during the 1st quarter worth about $180,000. NEXT Financial Group Inc acquired a new stake in shares of Popular in the 2nd quarter worth approximately $223,000. Finally, CIBC Asset Management Inc bought a new position in shares of Popular in the first quarter valued at approximately $211,000. Institutional investors own 87.85% of the company’s stock.

In other news, EVP Manuel Chinea sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $75.70, for a total transaction of $605,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria Luisa Ferre sold 2,171 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $75.81, for a total transaction of $164,583.51. The disclosure for this sale can be found here. Insiders have sold 41,352 shares of company stock worth $3,157,225 in the last 90 days. 1.69% of the stock is owned by company insiders.

BPOP stock traded up $1.61 during trading hours on Wednesday, hitting $73.80. 9,400 shares of the stock traded hands, compared to its average volume of 545,515. The stock has a 50-day simple moving average of $74.20 and a 200 day simple moving average of $74.72. Popular, Inc. has a one year low of $34.30 and a one year high of $83.72. The company has a market cap of $5.95 billion, a P/E ratio of 7.47 and a beta of 1.20.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, July 22nd. The bank reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.63. The firm had revenue of $642.34 million for the quarter, compared to analyst estimates of $621.34 million. Popular had a net margin of 30.89% and a return on equity of 13.99%. During the same quarter in the previous year, the business posted $1.49 earnings per share. On average, equities research analysts anticipate that Popular, Inc. will post 10.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Thursday, September 9th. Popular’s payout ratio is 30.66%.

About Popular

Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico and Popular U.S. The Banco Popular de Puerto Rico segment includes retail, mortgage and commercial banking services.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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