111 Capital Buys Shares of 3,217 Popular, Inc. (NASDAQ:BPOP)

111 Capital bought a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,217 shares of the bank's stock, valued at approximately $303,000.

A number of other institutional investors have also modified their holdings of the business. CIBC Asset Management Inc increased its stake in Popular by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock valued at $211,000 after buying an additional 112 shares during the period. Picton Mahoney Asset Management increased its stake in 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 buying an additional 118 shares during the period. Arizona State Retirement System increased its stake in Popular by 0.7% in the 4th quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock valued at $1,971,000 after buying an additional 143 shares during the period. Treasurer of the State of North Carolina increased its stake in Popular by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock valued at $2,949,000 after buying an additional 190 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Popular by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock valued at $2,888,000 after buying an additional 214 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on BPOP shares. Hovde Group dropped their price objective on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Wall Street Zen cut shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Barclays reissued an "overweight" rating and issued a $125.00 price objective (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Finally, Piper Sandler upped their price target on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Popular presently has a consensus rating of "Moderate Buy" and an average price target of $114.43.

Popular Stock Performance

NASDAQ BPOP traded up $1.34 during trading hours on Tuesday, reaching $105.35. The company's stock had a trading volume of 681,316 shares, compared to its average volume of 514,258. The stock has a market cap of $7.22 billion, a PE ratio of 12.31, a PEG ratio of 0.75 and a beta of 0.60. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The company's 50-day moving average is $95.06 and its two-hundred day moving average is $96.48.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to analysts' expectations of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. Equities analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be paid a $0.70 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.66%. Popular's payout ratio is 28.90%.

Insider Activity at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the transaction, the vice president now directly owns 3,604 shares in the company, valued at approximately $376,365.72. This represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.09% of the stock is owned by corporate insiders.

Popular 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.