Popular, Inc. (NASDAQ:BPOP) Position Raised by Fourth Sail Capital LP

Key Points

• Fourth Sail Capital LP increased its stake in Popular, Inc. by 3.2%, now owning about 120,182 shares valued at approximately $11.1 million, which makes it the firm's 17th largest holding.
• Several institutional investors, including PNC Financial Services Group and XTX Topco Ltd, also raised their positions in Popular during the 1st quarter, highlighting significant interest from hedge funds, which own 87.27% of the company's stock.
• Popular reported earnings of $3.09 per share for the last quarter, exceeding expectations, with an annualized dividend of $2.80 per share yielding 2.4% for shareholders.

Fourth Sail Capital LP increased its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,182 shares of the bank's stock after acquiring an additional 3,782 shares during the period. Popular makes up about 2.6% of Fourth Sail Capital LP's holdings, making the stock its 17th largest holding. Fourth Sail Capital LP owned about 0.17% of Popular worth $11,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP grew its position in shares of Popular by 53.8% in the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock valued at $123,496,000 after buying an additional 459,231 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Popular by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after acquiring an additional 201,067 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Popular by 32.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock worth $68,041,000 after purchasing an additional 175,327 shares during the period. Bank of Nova Scotia purchased a new stake in shares of Popular in the fourth quarter valued at about $11,990,000. Finally, Voloridge Investment Management LLC acquired a new position in Popular during the 4th quarter worth approximately $11,305,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Insider Activity

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president owned 3,604 shares of the company's stock, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction on Tuesday, June 3rd. The stock was 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 directly owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BPOP shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a report on Thursday, July 24th. Keefe, Bruyette & Woods upped their price objective on Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Piper Sandler lifted their target price on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Barclays lifted their price target on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Hovde Group increased their target price on Popular from $126.00 to $140.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Popular has an average rating of "Moderate Buy" and an average target price of $128.88.

Popular Price Performance

NASDAQ BPOP traded up $1.32 on Friday, reaching $114.95. The company had a trading volume of 290,406 shares, compared to its average volume of 444,652. The firm has a 50-day moving average of $110.76 and a 200-day moving average of $101.30. The firm has a market capitalization of $7.88 billion, a PE ratio of 11.14, a P/E/G ratio of 0.59 and a beta of 0.65. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $118.54.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. The firm had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. Popular had a return on equity of 12.60% and a net margin of 16.49%. During the same quarter last year, the firm earned $2.46 EPS. As a group, sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

About Popular

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.