Y Intercept Hong Kong Ltd Makes New Investment in Popular, Inc. (NASDAQ:BPOP)

Y Intercept Hong Kong Ltd acquired a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,092 shares of the bank's stock, valued at approximately $611,000.

Other institutional investors also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new position in shares of Popular during the 3rd quarter worth $29,000. Capital Performance Advisors LLP purchased a new position in Popular in the third quarter valued at about $35,000. Brooklyn Investment Group acquired a new position in Popular during the 3rd quarter worth approximately $47,000. Meeder Asset Management Inc. acquired a new position in shares of Popular during the second quarter worth $48,000. Finally, Headlands Technologies LLC boosted its position in Popular by 216.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,492 shares of the bank's stock valued at $132,000 after buying an additional 1,020 shares during the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Down 0.9 %

NASDAQ BPOP traded down $0.90 during trading hours on Friday, hitting $95.65. The company had a trading volume of 394,822 shares, compared to its average volume of 429,099. Popular, Inc. has a fifty-two week low of $79.01 and a fifty-two week high of $105.01. The firm has a market cap of $6.82 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. The business has a fifty day simple moving average of $96.60 and a 200-day simple moving average of $95.22.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates of $2.33 by ($0.17). The company had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.35%. Popular's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Equities analysts forecast that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.93%. This is an increase from Popular's previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. Popular's dividend payout ratio is 38.04%.

Analysts Set New Price Targets

Several research firms have issued reports on BPOP. Barclays lifted their price objective on Popular from $104.00 to $110.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Piper Sandler dropped their price target on shares of Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Popular from $90.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $103.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reduced their price target on shares of Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.00.

Insider Buying and Selling at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the sale, the vice president now directly owns 3,332 shares of the company's stock, valued at $325,569.72. This trade represents a 35.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares of the company's stock, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.