Two Sigma Advisers LP Has $9.27 Million Stake in Popular, Inc. (NASDAQ:BPOP)

Two Sigma Advisers LP raised its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 46.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,500 shares of the bank's stock after buying an additional 31,100 shares during the period. Two Sigma Advisers LP owned about 0.14% of Popular worth $9,265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BPOP. Tidal Investments LLC increased its holdings in shares of Popular by 2.2% in the fourth quarter. Tidal Investments LLC now owns 16,659 shares of the bank's stock valued at $1,567,000 after purchasing an additional 356 shares in the last quarter. Strategic Global Advisors LLC grew its holdings in Popular by 6.7% during the 4th quarter. Strategic Global Advisors LLC now owns 23,385 shares of the bank's stock worth $2,200,000 after acquiring an additional 1,462 shares during the period. Rafferty Asset Management LLC grew its holdings in Popular by 27.6% during the 4th quarter. Rafferty Asset Management LLC now owns 107,990 shares of the bank's stock worth $10,158,000 after acquiring an additional 23,370 shares during the period. Point72 Asset Management L.P. grew its holdings in Popular by 140.8% during 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 period. Finally, Nuveen Asset Management LLC grew its holdings in Popular by 3.5% during the 4th quarter. Nuveen Asset Management LLC now owns 161,612 shares of the bank's stock worth $15,201,000 after acquiring an additional 5,404 shares during the period. Institutional investors and hedge funds own 87.27% of the company's stock.

Popular Stock Down 0.6%

Shares of NASDAQ BPOP opened at $102.16 on Friday. The company's fifty day moving average is $93.16 and its 200-day moving average is $96.06. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.75 and a beta of 0.60. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. The business had revenue of $755.46 million for the quarter, compared to analysts' expectations of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. On average, research analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.74%. Popular's dividend payout ratio is currently 28.90%.

Insider Activity at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the sale, the vice president now directly owns 3,604 shares in the company, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of analyst reports. Hovde Group lowered their target price on shares of Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Barclays reaffirmed an "overweight" rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Royal Bank of Canada lifted their target price on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $110.00 to $100.00 in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Popular has a consensus rating of "Moderate Buy" and a consensus price target of $114.43.

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.

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