Voloridge Investment Management LLC bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 120,185 shares of the bank's stock, valued at approximately $11,305,000. Voloridge Investment Management LLC owned about 0.17% of Popular as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in shares of Popular in the 4th quarter valued at approximately $27,000. Picton Mahoney Asset Management increased its stake in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after buying an additional 118 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after acquiring an additional 218 shares in the last quarter. R Squared Ltd bought a new position in Popular during the 4th quarter valued at $166,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Popular in the 4th quarter worth about $202,000. Institutional investors and hedge funds own 87.27% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on BPOP shares. Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Barclays reaffirmed an "overweight" rating and set a $125.00 target price (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. 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 report on Thursday, May 15th. Finally, Royal Bank of Canada increased their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $114.43.
Read Our Latest Research Report on BPOP
Popular Price Performance
Shares of BPOP traded up $1.36 during midday trading on Thursday, reaching $103.75. The stock had a trading volume of 748,409 shares, compared to its average volume of 508,979. The firm's 50 day moving average price is $94.17 and its 200-day moving average price is $96.28. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $106.81. The company has a market capitalization of $7.11 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.75 and a beta of 0.60.
Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. The business had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 earnings per share. On average, equities analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Dividend Announcement
The business also recently declared 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 of this dividend is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.70%. Popular's dividend payout ratio is currently 28.90%.
Insiders Place Their Bets
In other news, VP Adorno Denissa Rodriguez sold 500 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president now owns 3,604 shares of the company's stock, valued at $376,365.72. This trade represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.09% of the company's stock.
About Popular
(
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
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