Raffles Associates Lp buys $9,422,250 stake in Popular Inc (BPOP)

Popular Inc (BPOP) : Raffles Associates Lp scooped up 20,000 additional shares in Popular Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 255,000 shares of Popular Inc which is valued at $9,422,250.Popular Inc makes up approximately 9.05% of Raffles Associates Lp’s portfolio.

Other Hedge Funds, Including , Brandywine Global Investment Management reduced its stake in BPOP by selling 30,775 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 2,483,710 shares of BPOP which is valued at $91,773,085. Popular Inc makes up approx 0.59% of Brandywine Global Investment Management’s portfolio. Delphi Private Advisors added BPOP to its portfolio by purchasing 218 company shares during the most recent quarter which is valued at $8,055. Popular Inc makes up approx 0.01% of Delphi Private Advisors’s portfolio.Bokf Na reduced its stake in BPOP by selling 13,850 shares or 39.4% in the most recent quarter. The Hedge Fund company now holds 21,302 shares of BPOP which is valued at $787,109. Popular Inc makes up approx 0.03% of Bokf Na’s portfolio. Maltese Capital Management sold out all of its stake in BPOP during the most recent quarter. The investment firm sold 26,550 shares of BPOP which is valued $981,023.

Popular Inc opened for trading at $39.44 and hit $39.6 on the upside on Thursday, eventually ending the session at $39.46, with a gain of 0.38% or 0.15 points. The heightened volatility saw the trading volume jump to 7,99,072 shares. Company has a market cap of $4,094 M.

On the company’s financial health, Popular Inc reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.82.Analysts expectations of $ 489.00.During the same quarter in the previous year, the company posted $5.79 EPS.

Investors should note that on Aug 19, 2016, Popular Inc announced a cash dividend of $0.1500. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.

Popular Inc. (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR) and Banco Popular North America (BPNA). The Company’s BPPR segment provides retail including residential mortgage loans originations and commercial banking services through its banking subsidiary Banco Popular de Puerto Rico as well as auto and equipment leasing and financing investment banking broker-dealer and insurance services through specialized subsidiaries. The Company’s BPNA segment consists of Popular North America Inc. (PNA) functioning as the holding company for the Company’s operations in the United States. The banking operations of BPNA in the United States mainland are based in New York Florida and New Jersey conducted under the name of Popular Community Bank.

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