Fieldview Capital Management LLC Has $6.58 Million Holdings in Popular, Inc. $BPOP

Key Points

• Fieldview Capital Management increased its stake in Popular, Inc. by 41.2% in the fourth quarter, owning 52,874 shares worth about $6.58 million. The stock is now its fourth-largest holding, representing about 1.1% of the portfolio.
• Popular reported strong quarterly earnings, posting $3.78 EPS versus analysts’ estimate of $3.30. However, revenue of $816.08 million came in below the consensus estimate.
• The bank announced a quarterly dividend of $0.75 per share, or $3.00 annually, for a 1.9% yield. Analysts remain mostly bullish, with a consensus rating of “Buy” and an average price target of $168.73.

Fieldview Capital Management LLC raised its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 41.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,874 shares of the bank's stock after purchasing an additional 15,438 shares during the quarter. Popular accounts for about 1.1% of Fieldview Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Fieldview Capital Management LLC owned 0.08% of Popular worth $6,584,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BPOP. Acumen Wealth Advisors LLC bought a new stake in Popular during the 4th quarter valued at about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Popular during the 4th quarter valued at about $28,000. Parallel Advisors LLC increased its stake in Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank's stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. Advisory Services Network LLC bought a new stake in Popular during the 3rd quarter valued at about $31,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Popular during the 4th quarter valued at about $50,000. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Up 1.3%

Shares of NASDAQ BPOP opened at $160.95 on Friday. The firm's 50-day moving average price is $148.25 and its 200-day moving average price is $136.32. The company has a market cap of $10.39 billion, a PE ratio of 11.89, a PEG ratio of 0.80 and a beta of 0.62. Popular, Inc. has a 52-week low of $102.56 and a 52-week high of $161.26.

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

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, May 29th. Popular's dividend payout ratio (DPR) is presently 22.16%.

Wall Street Analyst Weigh In

BPOP has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Popular from $170.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Royal Bank Of Canada raised their price objective on shares of Popular from $141.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Barclays raised their price objective on shares of Popular from $175.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of Popular from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company raised their price objective on shares of Popular from $135.00 to $163.00 and gave the company an "overweight" rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Popular presently has an average rating of "Buy" and a consensus price target of $168.73.

Insider Activity

In related news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $148.51, for a total value of $920,762.00. Following the transaction, the executive vice president owned 11,255 shares of the company's stock, valued at approximately $1,671,480.05. This trade represents a 35.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alejandro M. Ballester sold 23,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total transaction of $3,450,000.00. Following the completion of the transaction, the director directly owned 34,588 shares in the company, valued at approximately $5,188,200. The trade was a 39.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,500 shares of company stock valued at $4,415,870 in the last 90 days. 2.13% of the stock is currently owned by 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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