Los Angeles Capital Management LLC Buys 233,119 Shares of Popular, Inc. (NASDAQ:BPOP)

Los Angeles Capital Management LLC raised its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 235.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 332,093 shares of the bank's stock after buying an additional 233,119 shares during the quarter. Los Angeles Capital Management LLC owned 0.46% of Popular worth $33,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BPOP. Financial Management Professionals Inc. acquired a new position in shares of Popular during the 3rd quarter valued at $29,000. Capital Performance Advisors LLP bought a new position in shares of Popular during the 3rd quarter worth about $35,000. Headlands Technologies LLC acquired a new stake in shares of Popular in the 1st quarter valued at about $42,000. Mather Group LLC. acquired a new stake in shares of Popular in the 2nd quarter valued at about $44,000. Finally, Meeder Asset Management Inc. bought a new stake in Popular in the 2nd quarter valued at about $48,000. 87.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on BPOP shares. Wells Fargo & Company reduced their price objective on Popular from $105.00 to $98.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Royal Bank of Canada dropped their price objective on shares of Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $120.00 price objective (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Finally, Barclays lowered their target price on shares of Popular from $117.00 to $104.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Three equities 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.88.

Popular Trading Up 3.2 %

Shares of BPOP stock traded up $2.98 during trading hours on Monday, hitting $97.31. 540,503 shares of the company were exchanged, compared to its average volume of 423,035. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.74 and a beta of 0.79. The firm has a fifty day simple moving average of $96.78 and a 200 day simple moving average of $93.73. Popular, Inc. has a 52-week low of $67.24 and a 52-week high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). The firm had revenue of $736.56 million during 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 11.65%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Sell-side analysts anticipate that Popular, Inc. will post 8.46 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.55%. Popular's dividend payout ratio is presently 33.70%.

Insiders Place Their Bets

In related news, EVP Camille Burckhart sold 5,917 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares of the company's stock, valued at approximately $2,920,387.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Popular news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares of the company's stock, valued at $2,920,387.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the 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 in the company, valued at approximately $325,569.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,242 shares of company stock worth $1,102,880 over the last quarter. 2.09% of the stock is currently owned by company insiders.

About Popular

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.