Y Intercept Hong Kong Ltd Invests $343,000 in Popular, Inc. (NASDAQ:BPOP)

Y Intercept Hong Kong Ltd bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,714 shares of the bank's stock, valued at approximately $343,000.

A number of other hedge funds have also modified their holdings of BPOP. Versant Capital Management Inc grew its position in Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after purchasing an additional 702 shares during the last quarter. Crestline Management LP acquired a new stake in shares of Popular during the fourth quarter worth $215,000. Vise Technologies Inc. acquired a new stake in Popular in the 4th quarter worth about $227,000. Polymer Capital Management US LLC acquired a new stake in shares of Popular in the fourth quarter worth approximately $246,000. Finally, Oxford Asset Management LLP purchased a new position in Popular during the fourth quarter worth approximately $261,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on BPOP. Piper Sandler boosted their price target on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Hovde Group boosted their price target on Popular from $126.00 to $140.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. UBS Group reiterated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Popular currently has a consensus rating of "Moderate Buy" and an average target price of $128.88.

Popular Stock Down 1.2%

BPOP stock traded down $1.39 during trading on Friday, reaching $113.19. 548,138 shares of the company's stock were exchanged, compared to its average volume of 436,810. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $118.54. The company's fifty day moving average price is $109.65 and its 200-day moving average price is $100.78. The firm has a market cap of $7.75 billion, a PE ratio of 10.97, a P/E/G ratio of 0.62 and a beta of 0.65.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating the consensus estimate of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. Popular had a return on equity of 12.60% and a net margin of 16.49%. During the same period in the prior year, the business posted $2.46 earnings per share. As a group, sell-side analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.5%. Popular's payout ratio is currently 27.13%.

Insiders Place Their Bets

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president directly owned 3,604 shares of the company's stock, valued at approximately $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total transaction of $728,980.00. Following the sale, the executive vice president directly owned 27,382 shares of the company's stock, valued at $2,851,561.48. This trade represents a 20.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Popular Company 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.