Alps Advisors Inc. Acquires Shares of 3,970 Popular, Inc. (NASDAQ:BPOP)

Alps Advisors Inc. bought a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,970 shares of the bank's stock, valued at approximately $367,000.

Other hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its position in shares of 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 acquiring an additional 118 shares during the period. Versant Capital Management Inc boosted its holdings in Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after purchasing an additional 702 shares during the last quarter. Crestline Management LP purchased a new stake in Popular in the fourth quarter valued at $215,000. AXQ Capital LP purchased a new stake in Popular in the fourth quarter valued at $224,000. Finally, Vise Technologies Inc. purchased a new stake in Popular in the fourth quarter valued at $227,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the firm'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 value of $52,215.00. Following the completion of the transaction, the vice president owned 3,604 shares of the company's stock, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 27,382 shares of the company's stock, valued at $2,851,561.48. This represents a 20.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

Popular Price Performance

Shares of NASDAQ:BPOP traded up $2.67 during mid-day trading on Thursday, reaching $114.61. 166,588 shares of the company were exchanged, compared to its average volume of 536,329. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.60 and a beta of 0.63. The firm's 50-day simple moving average is $106.89 and its 200 day simple moving average is $99.08. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $115.96.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. Popular had a net margin of 15.82% and a return on equity of 12.22%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.43 EPS. On average, research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were given 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 2.44%. Popular's payout ratio is currently 28.90%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BPOP shares. Barclays increased their target price on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Hovde Group increased their target price on shares of Popular from $114.00 to $126.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a research note on Monday, June 30th. Piper Sandler increased their target price 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. Finally, Wall Street Zen lowered shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Popular currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.29.

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.