Capital Fund Management S.A. Invests $927,000 in Popular, Inc. $BPOP

Key Points

• Capital Fund Management S.A. has acquired a new stake in Popular, Inc., purchasing 10,038 shares valued at approximately $927,000 during the first quarter.
• Popular's stock has shown strong performance, recently reporting earnings per share of $3.09 for the quarter, significantly exceeding analysts' expectations of $2.60.
• The company announced an increase in its quarterly dividend to $0.75 per share, up from $0.70, indicating ongoing financial strength and shareholder value appreciation.

Capital Fund Management S.A. bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,038 shares of the bank's stock, valued at approximately $927,000.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Popular by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank's stock valued at $8,046,000 after purchasing an additional 8,262 shares during the last quarter. Cerity Partners LLC boosted its stake in Popular by 164.7% during the first quarter. Cerity Partners LLC now owns 15,731 shares of the bank's stock worth $1,453,000 after acquiring an additional 9,788 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Popular by 50.0% during the first quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank's stock worth $1,335,000 after acquiring an additional 4,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Popular by 105.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank's stock worth $1,132,000 after acquiring an additional 6,281 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Popular by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock worth $398,000 after acquiring an additional 195 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BPOP has been the topic of several research analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. UBS Group restated a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Piper Sandler upped their price objective on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Wells Fargo & Company upped their price objective on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Hovde Group restated an "outperform" rating on shares of Popular in a report on Friday. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $128.88.

Popular Stock Up 0.7%

BPOP traded up $0.85 during trading on Monday, hitting $125.64. 715,530 shares of the company traded hands, compared to its average volume of 485,283. The firm has a market cap of $8.49 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.65 and a beta of 0.68. The stock's fifty day moving average is $115.52 and its 200 day moving average is $103.19. Popular, Inc. has a one year low of $78.23 and a one year high of $126.27.

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

Popular Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 12th. This is an increase from Popular's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 2.4%. Popular's dividend payout ratio (DPR) is currently 29.07%.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction dated 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 owned 27,382 shares in the company, valued at $2,851,561.48. This trade represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is owned by corporate insiders.

Popular 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.