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Point72 Asset Management L.P. Makes New $8.39 Million Investment in Popular, Inc. (NASDAQ:BPOP)

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Point72 Asset Management L.P. bought a new stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 83,626 shares of the bank's stock, valued at approximately $8,385,000. Point72 Asset Management L.P. owned about 0.12% of Popular as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in shares of Popular during the third quarter valued at about $29,000. Capital Performance Advisors LLP purchased a new position in Popular in the 3rd quarter worth approximately $35,000. Mather Group LLC. bought a new stake in Popular in the second quarter valued at approximately $44,000. Brooklyn Investment Group purchased a new stake in shares of Popular during the third quarter valued at approximately $47,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Popular in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Price Performance

NASDAQ BPOP traded down $0.71 during trading hours on Friday, reaching $99.15. 411,248 shares of the company's stock traded hands, compared to its average volume of 478,247. The firm has a market cap of $7.07 billion, a PE ratio of 13.47, a PEG ratio of 0.78 and a beta of 0.81. The firm has a 50-day simple moving average of $96.52 and a 200 day simple moving average of $94.97. Popular, Inc. has a 52-week low of $75.17 and a 52-week high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing analysts' consensus estimates of $2.33 by ($0.17). The firm 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%. The firm's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 earnings per share. Sell-side analysts forecast that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.82%. This is a positive change from Popular's previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. Popular's dividend payout ratio (DPR) is presently 33.70%.

Insider Transactions at Popular

In other news, EVP Beatriz Castellvi sold 3,500 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were 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 approximately $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Popular from $108.00 to $96.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Popular from $90.00 to $105.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on Popular from $103.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday. Barclays upped their target price on Popular from $104.00 to $110.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Piper Sandler decreased their price objective on shares of Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Popular has a consensus rating of "Moderate Buy" and a consensus price target of $106.00.

Get Our Latest Analysis on Popular

Popular Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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