Los Angeles Capital Management LLC Purchases 68,035 Shares of Popular, Inc. (NASDAQ:BPOP)

Los Angeles Capital Management LLC raised its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 162.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,904 shares of the bank's stock after buying an additional 68,035 shares during the period. Los Angeles Capital Management LLC owned approximately 0.16% of Popular worth $10,152,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of Popular during the 4th quarter valued at about $27,000. Raymond James Financial Inc. bought a new position in shares of Popular during the 4th quarter valued at about $3,034,000. Corient Private Wealth LLC boosted its position in shares of Popular by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 13,247 shares of the bank's stock valued at $1,246,000 after purchasing an additional 257 shares in the last quarter. Xponance Inc. boosted its position in shares of Popular by 9.0% during the 4th quarter. Xponance Inc. now owns 3,754 shares of the bank's stock valued at $353,000 after purchasing an additional 311 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Popular by 23.3% during the 4th quarter. Teacher Retirement System of Texas now owns 24,037 shares of the bank's stock valued at $2,261,000 after purchasing an additional 4,550 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BPOP shares. Wells Fargo & Company raised their price objective on shares of Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group reiterated a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a report on Monday, June 30th. Barclays raised their target price on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Hovde Group raised their target price on shares of Popular from $126.00 to $140.00 and gave the stock an "outperform" rating in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $128.88.

Popular Stock Performance

Shares of BPOP stock traded down $0.68 during trading on Thursday, hitting $114.92. 297,812 shares of the company were exchanged, compared to its average volume of 581,153. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.62 and a beta of 0.63. The business's 50-day simple moving average is $108.15 and its 200 day simple moving average is $99.82. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $118.54.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping the consensus estimate of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. Popular had a net margin of 15.82% and a return on equity of 12.22%. During the same period last year, the company posted $2.46 earnings per share. On average, equities analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, May 29th. Popular's payout ratio is presently 28.90%.

Insider Activity at Popular

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the firm'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 transaction of $52,215.00. Following the transaction, the vice president owned 3,604 shares of the company's stock, valued at approximately $376,365.72. This trade represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 27,382 shares in the company, valued at approximately $2,851,561.48. The trade was a 20.36% decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

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.