Fox Run Management L.L.C. Increases Stock Holdings in Popular, Inc. $BPOP

Key Points

• Fox Run Management L.L.C. increased its stake in Popular, Inc. by 164.0% during the 1st quarter, acquiring an additional 6,755 shares, bringing its total to 10,875 shares valued at $1,005,000.
• Multiple hedge funds have also significantly increased their stakes in Popular, with Versant Capital Management boosting its holding by 589.9% during the same period.
• Analysts are generally positive on Popular, with the stock receiving an average rating of "Moderate Buy" and several price target increases, including to $140.00 from Wells Fargo.

Fox Run Management L.L.C. lifted its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 164.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,875 shares of the bank's stock after purchasing an additional 6,755 shares during the quarter. Fox Run Management L.L.C.'s holdings in Popular were worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Popular by 589.9% in the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after purchasing an additional 702 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Popular by 33.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock worth $162,000 after acquiring an additional 438 shares during the last quarter. Crestline Management LP bought a new stake in shares of Popular during the 4th quarter worth approximately $215,000. Vise Technologies Inc. bought a new stake in shares of Popular during the 4th quarter worth approximately $227,000. Finally, OneAscent Investment Solutions LLC bought a new stake in shares of Popular during the 1st quarter worth approximately $249,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Insider Activity

In other news, 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 value of $728,980.00. Following the transaction, the executive vice president directly owned 27,382 shares in the company, valued at approximately $2,851,561.48. This trade represents a 20.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BPOP shares. Wall Street Zen lowered Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their price target on Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Barclays raised their price target on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group reissued a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Finally, Piper Sandler lifted their target price on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.88.

Popular Trading Up 0.5%

Shares of NASDAQ:BPOP traded up $0.54 on Wednesday, reaching $119.73. The company had a trading volume of 321,558 shares, compared to its average volume of 558,910. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $120.17. The firm's 50 day simple moving average is $112.56 and its 200-day simple moving average is $102.05. The firm has a market capitalization of $8.09 billion, a PE ratio of 11.60, a PEG ratio of 0.61 and a beta of 0.65.

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

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.