Point72 DIFC Ltd bought a new position in Popular, Inc. (NASDAQ:BPOP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,109 shares of the bank's stock, valued at approximately $713,000.
Several other institutional investors and hedge funds have also modified their holdings of BPOP. Financial Management Professionals Inc. bought a new position in Popular in the 3rd quarter valued at $29,000. Capital Performance Advisors LLP bought a new position in shares of Popular in the third quarter valued at about $35,000. Brooklyn Investment Group bought a new position in shares of Popular in the third quarter valued at about $47,000. Mather Group LLC. acquired a new position in Popular during the 2nd quarter worth about $44,000. Finally, Meeder Asset Management Inc. bought a new stake in Popular during the 2nd quarter worth about $48,000. 87.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on BPOP. Keefe, Bruyette & Woods increased their price target on shares of Popular from $103.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday. Royal Bank of Canada lowered their target price on Popular from $108.00 to $96.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Barclays upped their price target on Popular from $104.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler lowered their price objective on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on shares of Popular from $90.00 to $105.00 and gave the company an "equal weight" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $106.00.
Check Out Our Latest Stock Report on BPOP
Popular Price Performance
Shares of Popular stock traded down $0.71 during trading on Friday, hitting $99.15. 411,248 shares of the company were exchanged, compared to its average volume of 427,323. The firm has a market capitalization of $7.07 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.77 and a beta of 0.81. The firm's fifty day moving average price is $96.52 and its 200 day moving average price is $94.91. Popular, Inc. has a 1-year low of $75.17 and a 1-year high of $105.01.
Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $2.16 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 11.35%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. As a group, equities research analysts anticipate that Popular, Inc. will post 8.46 earnings per share for the current year.
Popular Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.70 dividend. This is a positive change from Popular's previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, December 6th. Popular's payout ratio is presently 33.70%.
Insider Buying and Selling at Popular
In related news, EVP Beatriz Castellvi sold 3,500 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at approximately $2,490,403.40. This represents a 12.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now owns 3,332 shares of the company's stock, valued at $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.
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.
See Also
Before you consider Popular, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Popular wasn't on the list.
While Popular currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
