Two Sigma Advisers LP Boosts Stock Position 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 Form 13F filing with the Securities and Exchange Commission. The firm owned 98,500 shares of the bank's stock after purchasing an additional 31,100 shares during the period. Two Sigma Advisers LP owned 0.14% of Popular worth $9,265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Popular in the 4th quarter valued at about $79,842,000. Massachusetts Financial Services Co. MA grew its position in shares of Popular by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock valued at $133,446,000 after purchasing an additional 515,798 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Popular by 53.8% during the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock valued at $123,496,000 after purchasing an additional 459,231 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Popular by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after purchasing an additional 201,067 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Popular by 32.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock worth $68,041,000 after purchasing an additional 175,327 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Popular

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

Popular Stock Down 0.7%

Shares of NASDAQ BPOP traded down $0.74 during midday trading on Wednesday, reaching $103.65. The company had a trading volume of 87,919 shares, compared to its average volume of 505,421. Popular, Inc. has a one year low of $78.23 and a one year high of $106.81. The firm's fifty day moving average price is $93.94 and its 200-day moving average price is $96.24. The stock has a market cap of $7.10 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. The business had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. Popular's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. As a group, equities research analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

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 given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, May 29th. Popular's payout ratio is 28.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Barclays restated an "overweight" rating and set a $125.00 price target (up previously from $115.00) on shares of Popular in a research report on Thursday, April 24th. Keefe, Bruyette & Woods raised their price target on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler raised their price target on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently 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.