Jump Financial LLC Increases Stock Position in Popular, Inc. (NASDAQ:BPOP)

Jump Financial LLC increased its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,100 shares of the bank's stock after buying an additional 4,419 shares during the period. Jump Financial LLC's holdings in Popular were worth $2,831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Popular during the fourth quarter worth about $27,000. Picton Mahoney Asset Management raised its position in shares of Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Popular during the third quarter worth approximately $81,000. Finally, R Squared Ltd bought a new stake in shares of Popular in the fourth quarter worth $166,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BPOP. Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $110.00 to $100.00 in a report on Wednesday, April 9th. Barclays upped their price objective on Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Royal Bank of Canada boosted their price target on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. StockNews.com upgraded Popular from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Popular presently has an average rating of "Moderate Buy" and a consensus price target of $111.57.

Popular Trading Up 2.3 %

Shares of NASDAQ BPOP opened at $85.81 on Friday. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $106.81. The company has a market cap of $5.95 billion, a PE ratio of 10.02, a P/E/G ratio of 0.75 and a beta of 0.62. The stock has a 50 day simple moving average of $92.63 and a 200-day simple moving average of $95.45.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. Sell-side analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.26%. Popular's dividend payout ratio is presently 32.71%.

Insider Buying and Selling

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, the executive vice president now directly owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is 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.

Want to see what other hedge funds are holding BPOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Popular, Inc. (NASDAQ:BPOP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.