Jump Financial LLC Has $3.96 Million Stake in Popular, Inc. $BPOP

Key Points

• Jump Financial LLC has increased its stake in Popular, Inc. by 42.3%, acquiring an additional 12,721 shares for a total of 42,821 shares worth approximately $3.95 million.
• Popular, Inc. announced a quarterly dividend of $0.75 per share, increasing from the previous $0.70, with a dividend yield of 2.4%.
• Wall Street analysts have rated Popular with a consensus of "Moderate Buy", with price targets ranging from $110.00 to $142.00.

Jump Financial LLC boosted its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 42.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,821 shares of the bank's stock after buying an additional 12,721 shares during the period. Jump Financial LLC owned approximately 0.06% of Popular worth $3,955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in Popular by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank's stock valued at $329,674,000 after buying an additional 34,322 shares during the period. Wellington Management Group LLP increased its position in Popular by 1.7% in the 1st quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank's stock worth $179,243,000 after purchasing an additional 32,078 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Popular by 4.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,485,141 shares of the bank's stock worth $137,182,000 after purchasing an additional 66,412 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Popular by 2.4% in the 4th quarter. Frontier Capital Management Co. LLC now owns 988,777 shares of the bank's stock worth $93,004,000 after purchasing an additional 23,214 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Popular by 2.7% in the 4th quarter. AQR Capital Management LLC now owns 937,274 shares of the bank's stock worth $88,160,000 after purchasing an additional 24,842 shares during the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Popular

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.09% of the company's stock.

Popular Stock Up 0.7%

Shares of BPOP stock traded up $0.85 during mid-day trading on Friday, reaching $125.64. The stock had a trading volume of 715,530 shares, compared to its average volume of 485,283. The firm's 50 day simple moving average is $115.52 and its 200 day simple moving average is $103.19. Popular, Inc. has a one year low of $78.23 and a one year high of $126.27. The firm has a market cap of $8.49 billion, a PE ratio of 12.17, a P/E/G ratio of 0.65 and a beta of 0.68.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping 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 company had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. During the same quarter last year, the company earned $2.46 EPS. Sell-side analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $0.75 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Popular's previous quarterly dividend of $0.70. Popular's dividend payout ratio is 29.07%.

Analyst Ratings Changes

BPOP has been the topic of several research reports. Barclays upped their target price on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods upped their price target on Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Hovde Group restated an "outperform" rating on shares of Popular in a research note on Friday. Finally, UBS Group restated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. 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 MarketBeat, Popular currently has a consensus rating of "Moderate Buy" and an average target price of $128.88.

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.