Edgestream Partners L.P. Acquires 63,432 Shares of Popular, Inc. (NASDAQ:BPOP)

Edgestream Partners L.P. grew its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 722.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 72,208 shares of the bank's stock after acquiring an additional 63,432 shares during the quarter. Edgestream Partners L.P. owned about 0.10% of Popular worth $6,670,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of Popular in the 4th quarter valued at $27,000. Picton Mahoney Asset Management raised its holdings in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after buying an additional 118 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 702 shares during the last quarter. Crestline Management LP acquired a new stake in Popular in the fourth quarter valued at about $215,000. Finally, AXQ Capital LP bought a new position in Popular in the fourth quarter valued at about $224,000. 87.27% of the stock is currently owned by institutional investors.

Popular Price Performance

Shares of Popular stock traded up $0.64 during trading on Wednesday, hitting $111.94. The company's stock had a trading volume of 449,757 shares, compared to its average volume of 537,781. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $115.96. The stock has a 50-day moving average price of $106.89 and a two-hundred day moving average price of $99.08.

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

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, May 29th. Popular's payout ratio is presently 28.90%.

Insider Buying and Selling

In other 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 value of $52,215.00. Following the transaction, the vice president owned 3,604 shares in the company, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Camille Burckhart sold 7,000 shares of the company's 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 completion of the sale, the executive vice president directly owned 27,382 shares in the company, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BPOP. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a report on Monday, June 30th. Wells Fargo & Company upped their price objective on shares of Popular from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Barclays boosted 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. Finally, UBS Group reiterated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.