Popular, Inc. $BPOP Stock Position Lifted 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 grew its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 216.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,259 shares of the bank's stock after purchasing an additional 87,669 shares during the period. Acadian Asset Management LLC owned approximately 0.19% of Popular worth $11,846,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BPOP. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Popular in the first quarter valued at approximately $47,000. Versant Capital Management Inc boosted its stake in shares of Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after buying an additional 702 shares in the last quarter. Quarry LP purchased a new stake in shares of Popular in the first quarter valued at approximately $84,000. PNC Financial Services Group Inc. boosted its stake in shares of Popular by 33.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock valued at $162,000 after buying an additional 438 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Popular during the first quarter worth $207,000. Institutional investors and hedge funds own 87.27% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on BPOP shares. Barclays boosted 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 boosted their price target on Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup boosted their price target on Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Zacks Research raised Popular from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Finally, UBS Group reissued a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $128.88.

Popular Stock Performance

Popular stock traded up $2.19 during trading on Wednesday, hitting $125.70. The company's stock had a trading volume of 123,401 shares, compared to its average volume of 560,074. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.64 and a beta of 0.68. The stock's fifty day moving average is $118.77 and its 200 day moving average is $105.06. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $128.66.

Popular (NASDAQ:BPOP - Get Free Report) last announced 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 company had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same period in the prior year, the firm posted $2.46 earnings per share. On average, research analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.1328 dividend. Popular's dividend payout ratio is currently 29.07%.

Insider Activity at Popular

In other news, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the completion of the transaction, the executive vice president directly owned 24,773 shares in the company, valued at approximately $3,083,495.31. This represents a 42.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.23% of the company's stock.

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.