111 Capital Increases Holdings in Popular, Inc. $BPOP

Key Points

• 111 Capital increased its stake in Popular, Inc. (NASDAQ:BPOP) by 154.4% in the second quarter, acquiring an additional 7,615 shares and bringing their total holdings to 12,546 shares valued at approximately $1.38 million.
• Despite some hedge fund activity, Popular, Inc. remains largely held by institutional investors, with these entities owning 87.27% of the company's stock.
• Analyst ratings for Popular, Inc. are predominantly positive, with a consensus rating of "Moderate Buy" and an average price target of $130.13.

111 Capital raised its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 154.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,546 shares of the bank's stock after buying an additional 7,615 shares during the period. 111 Capital's holdings in Popular were worth $1,383,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its position in Popular by 4.2% during the first quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank's stock valued at $263,000 after acquiring an additional 116 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Popular by 0.3% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,660 shares of the bank's stock valued at $5,788,000 after purchasing an additional 185 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Popular by 3.4% during the 1st quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank's stock valued at $543,000 after purchasing an additional 191 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Popular by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock valued at $398,000 after purchasing an additional 195 shares during the last quarter. Finally, Perkins Coie Trust Co increased its holdings in Popular by 6.7% during the first quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock valued at $296,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.

Analyst Ratings Changes

BPOP has been the subject of a number of research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Popular in a report on Saturday, September 27th. Hovde Group restated an "outperform" rating on shares of Popular in a research note on Friday, August 29th. Barclays upped their price objective on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Citigroup upped their price objective on Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Zacks Research cut Popular from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Popular presently has a consensus rating of "Moderate Buy" and an average price target of $130.13.

Insider Transactions at Popular

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the completion of the sale, the executive vice president directly owned 24,773 shares of the company's stock, valued at $3,083,495.31. This trade represents a 42.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.09% of the stock is currently owned by company insiders.

Popular Price Performance

Shares of NASDAQ BPOP opened at $125.93 on Friday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32. The stock has a market cap of $8.51 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.68. The firm has a fifty day moving average price of $121.98 and a 200-day moving average price of $108.14.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The business had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. During the same quarter in the prior year, the business posted $2.46 EPS. On average, research analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The business also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.1328 per share. Popular's dividend payout ratio (DPR) is currently 29.07%.

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.

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