Popular, Inc. $BPOP Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Popular, Inc. by 216.0% in the first quarter, now owning 128,259 shares valued at approximately $11.85 million.
• Popular, Inc. recently reported an EPS of $3.09 for the quarter, beating estimates of $2.60 and achieving a revenue of $800.03 million.
• On September 25, Popular will declare a dividend of $0.1328 per share, with a current payout ratio of 27.13%.

Acadian Asset Management LLC increased its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 216.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,259 shares of the bank's stock after acquiring an additional 87,669 shares during the quarter. Acadian Asset Management LLC owned approximately 0.19% of Popular worth $11,846,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BPOP. AQR Capital Management LLC grew its holdings in shares of Popular by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank's stock worth $129,722,000 after acquiring an additional 495,325 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Popular in the 4th quarter worth $11,305,000. Point72 Asset Management L.P. grew its holdings in shares of Popular by 140.8% in the 4th quarter. Point72 Asset Management L.P. now owns 201,331 shares of the bank's stock worth $18,937,000 after acquiring an additional 117,705 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Popular in the 1st quarter worth $10,122,000. Finally, Invenomic Capital Management LP grew its holdings in shares of Popular by 136.1% during the first quarter. Invenomic Capital Management LP now owns 169,183 shares of the bank's stock valued at $15,627,000 after buying an additional 97,531 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Popular

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president owned 24,773 shares of the company's stock, valued at $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.09% of the stock is owned by corporate insiders.

Popular Price Performance

Shares of NASDAQ BPOP opened at $124.80 on Friday. The business's 50-day moving average price is $118.20 and its two-hundred day moving average price is $104.55. Popular, Inc. has a one year low of $78.23 and a one year high of $128.66. The company has a market capitalization of $8.43 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 0.65 and a beta of 0.68.

Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $3.09 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 firm had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. During the same quarter in the previous year, the company posted $2.46 earnings per share. On average, equities analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The business also recently declared a sep 25 dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.1328 dividend. Popular's dividend payout ratio is currently 27.13%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BPOP. Zacks Research upgraded Popular from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Piper Sandler lifted their price target on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. UBS Group reiterated a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price target on Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Citigroup lifted their price target on Popular from $133.00 to $142.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Popular presently has a consensus rating of "Buy" and an average target price of $128.88.

Popular Company 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.

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