Bayforest Capital Ltd Takes Position in Popular, Inc. $BPOP

Key Points

• Bayforest Capital Ltd has acquired a new position in Popular, Inc. (NASDAQ:BPOP), purchasing 4,167 shares valued at approximately $459,000.
• Popular, Inc. recently reported $3.09 EPS for the second quarter, exceeding analysts' expectations of $2.60, with revenue of $800.03 million.
• Dividend of $0.1328 per share was declared and paid to investors as of September 30, with a current payout ratio of 29.07%.

Bayforest Capital Ltd acquired a new position in Popular, Inc. (NASDAQ:BPOP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,167 shares of the bank's stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BPOP. Venturi Wealth Management LLC boosted its stake in shares of Popular by 4.2% during the 1st quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank's stock worth $263,000 after acquiring an additional 116 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Popular by 3.0% during the second quarter. Sequoia Financial Advisors LLC now owns 5,376 shares of the bank's stock valued at $592,000 after purchasing an additional 158 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Popular by 0.3% during the first 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 period. GSA Capital Partners LLP grew its holdings in Popular by 3.4% during the first 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 period. Finally, QRG Capital Management Inc. increased its position in Popular by 4.7% in the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock worth $398,000 after buying an additional 195 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $124.14 on Wednesday. The firm has a fifty day moving average price of $123.25 and a 200 day moving average price of $109.79. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $129.32. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 0.52 and a beta of 0.68.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The company had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. During the same period in the previous year, the firm posted $2.46 EPS. As a group, research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently declared a sep 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.1328 per share. Popular's payout ratio is presently 29.07%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group reaffirmed a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Barclays reaffirmed an "overweight" rating on shares of Popular in a report on Wednesday, October 8th. Citigroup increased their price objective on shares of Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Popular in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company upped their target price on shares of Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $132.67.

Insiders Place Their Bets

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the completion of the transaction, the executive vice president owned 24,773 shares in the company, valued at $3,083,495.31. This trade represents a 42.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.23% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding BPOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Popular, Inc. (NASDAQ:BPOP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.