BNP Paribas Financial Markets Purchases 31,270 Shares of Popular, Inc. $BPOP

Key Points

• BNP Paribas Financial Markets increased its stake in Popular, Inc. by 54.6% in the fourth quarter, buying 31,270 additional shares and bringing its total to 88,593 shares valued at about $11.0 million.
• Popular reported strong quarterly earnings of $3.78 per share, beating analyst expectations of $3.30, though revenue of $816.08 million came in below estimates. Analysts currently expect the bank to earn 15.14 EPS for the year.
• The company declared a quarterly dividend of $0.75 per share, payable July 1, which works out to an annualized dividend of $3.00 and a yield of 2.0%.

BNP Paribas Financial Markets boosted its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 54.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,593 shares of the bank's stock after buying an additional 31,270 shares during the period. BNP Paribas Financial Markets owned approximately 0.13% of Popular worth $11,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BPOP. Lighthouse Investment Partners LLC increased its holdings in Popular by 140.1% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 45,170 shares of the bank's stock worth $5,737,000 after purchasing an additional 26,354 shares during the period. Ceeto Capital Group LLC purchased a new position in Popular during the 3rd quarter worth $29,115,000. Savant Capital LLC increased its holdings in Popular by 68.6% during the 3rd quarter. Savant Capital LLC now owns 17,309 shares of the bank's stock worth $2,198,000 after purchasing an additional 7,043 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Popular by 112.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,616 shares of the bank's stock worth $5,620,000 after purchasing an additional 23,584 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in Popular by 13.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 77,807 shares of the bank's stock worth $9,882,000 after purchasing an additional 9,180 shares during the period. 87.27% of the stock is owned by institutional investors.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $153.07 on Monday. Popular, Inc. has a 12-month low of $102.56 and a 12-month high of $153.99. The business's fifty day simple moving average is $145.82 and its 200-day simple moving average is $134.94. The company has a market capitalization of $9.88 billion, a PE ratio of 11.31, a P/E/G ratio of 0.76 and a beta of 0.62.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 earnings per share for the quarter, topping analysts' consensus estimates of $3.30 by $0.48. The firm had revenue of $816.08 million during the quarter, compared to analysts' expectations of $866.54 million. Popular had a return on equity of 14.53% and a net margin of 20.10%.During the same quarter last year, the firm earned $2.56 EPS. Research analysts predict that Popular, Inc. will post 15.14 EPS for the current year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.0%. Popular's dividend payout ratio (DPR) is presently 22.16%.

Wall Street Analyst Weigh In

BPOP has been the topic of several research reports. Barclays raised their price objective on Popular from $175.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. UBS Group raised their price objective on Popular from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Weiss Ratings upgraded Popular from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, May 4th. Citigroup lifted their price target on Popular from $170.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Finally, Zacks Research downgraded Popular from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $168.73.

Insider Transactions at Popular

In other news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $148.51, for a total value of $920,762.00. Following the completion of the sale, the executive vice president owned 11,255 shares of the company's stock, valued at $1,671,480.05. This trade represents a 35.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alejandro M. Sanchez sold 300 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the sale, the director directly owned 3,960 shares of the company's stock, valued at $595,425.60. The trade was a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,500 shares of company stock valued at $4,415,870 in the last quarter. 2.13% of the stock is currently owned by corporate insiders.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company's product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.

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