Sivia Capital Partners LLC Takes Position in Popular, Inc. $BPOP

Key Points

• Sivia Capital Partners LLC acquired a new stake in Popular, Inc. during the 2nd quarter, purchasing 2,287 shares valued at approximately $252,000.
• Analysts are positive on Popular's stock, with Citigroup and Wells Fargo raising their price targets to $142.00 and $140.00 respectively, while the stock maintains an average rating of "Buy."
• Popular, Inc. reported a strong quarterly performance with earnings of $3.09 per share, exceeding estimates and demonstrating a 16.49% net margin.

Sivia Capital Partners LLC acquired a new stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,287 shares of the bank's stock, valued at approximately $252,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC boosted its position in Popular by 8.9% during the second quarter. Pallas Capital Advisors LLC now owns 5,848 shares of the bank's stock valued at $645,000 after purchasing an additional 479 shares in the last quarter. Baron Wealth Management LLC raised its stake in Popular by 59.9% in the second quarter. Baron Wealth Management LLC now owns 3,510 shares of the bank's stock valued at $387,000 after buying an additional 1,315 shares during the last quarter. Voya Investment Management LLC raised its stake in Popular by 287.0% in the first quarter. Voya Investment Management LLC now owns 80,210 shares of the bank's stock valued at $7,409,000 after buying an additional 59,482 shares during the last quarter. Strs Ohio purchased a new stake in Popular in the first quarter valued at about $1,915,000. Finally, Acadian Asset Management LLC raised its stake in Popular by 216.0% in the first quarter. Acadian Asset Management LLC now owns 128,259 shares of the bank's stock valued at $11,846,000 after buying an additional 87,669 shares during the last quarter. Institutional investors own 87.27% of the company's stock.

Popular Stock Performance

Shares of NASDAQ:BPOP traded up $1.19 during midday trading on Tuesday, hitting $128.17. The company's stock had a trading volume of 33,669 shares, compared to its average volume of 562,114. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.66 and a beta of 0.68. The stock's 50 day simple moving average is $119.80 and its 200 day simple moving average is $106.02. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $129.32.

Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping 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 business had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. During the same period last year, the business earned $2.46 earnings per share. As a group, analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The company also recently announced 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 (DPR) is currently 29.07%.

Insider Activity

In related news, EVP Gilberto Monzon sold 18,001 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 in the company, valued at $3,083,495.31. The trade was a 42.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BPOP shares. UBS Group restated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Wells Fargo & Company lifted their price target on Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods upped their price target on Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Barclays increased their target price on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Popular in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $130.13.

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.