Popular, Inc. (NASDAQ:BPOP) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP reduced its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 8.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 249,693 shares of the bank's stock after selling 22,059 shares during the period. Two Sigma Investments LP owned 0.35% of Popular worth $23,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BPOP. Barclays PLC lifted its holdings in shares of 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 during the last quarter. Perpetual Ltd raised its stake in Popular by 5.3% during the 4th quarter. Perpetual Ltd now owns 104,087 shares of the bank's stock valued at $9,790,000 after acquiring an additional 5,200 shares during the last quarter. SG Americas Securities LLC raised its stake in Popular by 20.6% during the 4th quarter. SG Americas Securities LLC now owns 23,674 shares of the bank's stock valued at $2,227,000 after acquiring an additional 4,044 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Popular by 3.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,631 shares of the bank's stock valued at $906,000 after acquiring an additional 349 shares during the last quarter. Finally, KBC Group NV raised its stake in Popular by 1,719.6% during the 4th quarter. KBC Group NV now owns 37,775 shares of the bank's stock valued at $3,553,000 after acquiring an additional 35,699 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Popular

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the firm'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 value of $52,215.00. Following the completion of the transaction, the vice president now directly owns 3,604 shares of the company's stock, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on BPOP shares. Piper Sandler upped their price objective on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Barclays reaffirmed an "overweight" rating and set a $125.00 price objective (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada upped 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.43.

Popular Price Performance

Shares of BPOP stock traded up $1.14 during trading hours on Tuesday, reaching $103.64. 80,122 shares of the company's stock were exchanged, compared to its average volume of 592,176. The company has a market cap of $7.10 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The company's 50 day moving average is $93.65 and its two-hundred day moving average is $96.18. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $106.81.

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

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, May 29th. Popular's payout ratio is currently 28.90%.

Popular Company 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.