Voleon Capital Management LP Has $588,000 Holdings in Popular, Inc. $BPOP

Key Points

• Voleon Capital Management LP has reduced its stake in Popular, Inc. by 38.7% during the first quarter, now holding 6,362 shares valued at approximately $588,000.
• Other institutional investors have increased their positions, with Captrust Financial Advisors boosting holdings by 4.8%, while Point72 Asset Management increased its position by 140.8% during the fourth quarter.
• Popular, Inc. reported earnings of $3.09 per share for the last quarter, surpassing analyst expectations, and announced a dividend of $0.1328 to be paid on September 30th.

Voleon Capital Management LP trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 38.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,362 shares of the bank's stock after selling 4,024 shares during the period. Voleon Capital Management LP's holdings in Popular were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BPOP. Captrust Financial Advisors boosted its position in Popular by 4.8% during the fourth quarter. Captrust Financial Advisors now owns 7,164 shares of the bank's stock worth $674,000 after purchasing an additional 325 shares during the period. Ensign Peak Advisors Inc boosted its position in shares of Popular by 38.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 40,316 shares of the bank's stock valued at $3,792,000 after acquiring an additional 11,230 shares during the period. Numerai GP LLC bought a new stake in shares of Popular in the fourth quarter valued at about $1,076,000. Nuveen Asset Management LLC boosted its position in shares of Popular by 3.5% in the fourth quarter. Nuveen Asset Management LLC now owns 161,612 shares of the bank's stock valued at $15,201,000 after acquiring an additional 5,404 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Popular by 140.8% in the fourth quarter. Point72 Asset Management L.P. now owns 201,331 shares of the bank's stock valued at $18,937,000 after acquiring an additional 117,705 shares during the period. 87.27% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Gilberto Monzon sold 18,001 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president owned 24,773 shares of the company's stock, valued at $3,083,495.31. This represents a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.09% of the stock is owned by corporate insiders.

Popular Trading Down 1.1%

NASDAQ BPOP traded down $1.33 during trading on Friday, hitting $123.47. 554,544 shares of the company's stock were exchanged, compared to its average volume of 526,765. The company has a market cap of $8.34 billion, a PE ratio of 11.96, a P/E/G ratio of 0.65 and a beta of 0.68. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $128.66. The stock's 50 day moving average price is $118.38 and its two-hundred day moving average price is $104.71.

Popular (NASDAQ:BPOP - Get Free Report) last issued its 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 firm had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same quarter in the previous year, the firm earned $2.46 earnings per share. Analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Hovde Group reissued an "outperform" rating on shares of Popular in a research report on Friday, August 29th. Citigroup upped their price objective on shares of Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group reaffirmed a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Popular in a research report on Thursday, July 24th. Finally, Zacks Research raised shares of Popular from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Popular presently has a consensus rating of "Buy" and a consensus price target 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.