Squarepoint Ops LLC Sells 15,835 Shares of Popular, Inc. (NASDAQ:BPOP)

Squarepoint Ops LLC reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 53.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,694 shares of the bank's stock after selling 15,835 shares during the quarter. Squarepoint Ops LLC's holdings in Popular were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Popular by 8.5% in the 3rd quarter. Barclays PLC now owns 60,099 shares of the bank's stock valued at $6,024,000 after purchasing an additional 4,699 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Popular by 3.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,631 shares of the bank's stock valued at $906,000 after purchasing an additional 349 shares during the period. KBC Group NV increased its stake in Popular by 1,719.6% in the fourth quarter. KBC Group NV now owns 37,775 shares of the bank's stock valued at $3,553,000 after purchasing an additional 35,699 shares during the last quarter. Yousif Capital Management LLC purchased a new position in Popular during the fourth quarter worth about $202,000. Finally, Vest Financial LLC boosted its stake in Popular by 80.5% in the 4th quarter. Vest Financial LLC now owns 26,735 shares of the bank's stock worth $2,515,000 after buying an additional 11,927 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.

Popular Stock Down 1.2%

BPOP traded down $1.23 during midday trading on Wednesday, reaching $104.12. 446,139 shares of the company's stock were exchanged, compared to its average volume of 514,320. Popular, Inc. has a one year low of $78.23 and a one year high of $110.00. The business has a 50-day simple moving average of $95.31 and a two-hundred day simple moving average of $96.53. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60.

Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to analysts' expectations of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, 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 quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, May 29th. Popular's dividend payout ratio is 28.90%.

Insider Activity at Popular

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the 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 sale, the vice president now owns 3,604 shares in the company, valued at approximately $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction of $728,980.00. Following the transaction, the executive vice president now owns 27,382 shares of the company's stock, valued at $2,851,561.48. This trade represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BPOP shares. Barclays reaffirmed an "overweight" rating and set a $125.00 price target (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Hovde Group dropped their target price on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their price target on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Piper Sandler upped their target price on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Popular presently has an average rating of "Moderate Buy" and a consensus price target of $114.43.

Popular 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.