Versor Investments LP Raises Stock Holdings in Popular, Inc. $BPOP

Key Points

• Versor Investments LP significantly increased its stake in Popular, Inc. by 266.7%, obtaining a total of 18,700 shares valued at $1.7 million at the end of the first quarter.
• Popular, Inc. reported strong earnings with $3.09 earnings per share, surpassing analyst estimates of $2.60, and revenue of $800 million.
• Research firms have raised their price targets for Popular, with Wells Fargo increasing its target from $135 to $140, and Barclays also raising theirs to $140, maintaining an "overweight" rating.

Versor Investments LP boosted its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 266.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,700 shares of the bank's stock after purchasing an additional 13,600 shares during the quarter. Versor Investments LP's holdings in Popular were worth $1,727,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc increased its position in shares of Popular by 589.9% during the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after acquiring an additional 702 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Popular by 33.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock worth $162,000 after purchasing an additional 438 shares in the last quarter. Crestline Management LP purchased a new stake in shares of Popular in the fourth quarter worth approximately $215,000. Vise Technologies Inc. bought a new position in shares of Popular in the fourth quarter valued at approximately $227,000. Finally, OneAscent Investment Solutions LLC purchased a new position in shares of Popular during the first quarter valued at approximately $249,000. 87.27% of the stock is owned by institutional investors.

Popular Trading Down 0.3%

Shares of BPOP stock traded down $0.34 during trading on Thursday, reaching $119.00. 377,317 shares of the company's stock traded hands, compared to its average volume of 559,396. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $120.17. The company has a market capitalization of $8.04 billion, a P/E ratio of 11.53, a PEG ratio of 0.62 and a beta of 0.65. The firm's 50-day moving average is $112.84 and its 200 day moving average is $102.17.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The firm had revenue of $800.03 million for the quarter, compared to analysts' expectations of $777.38 million. During the same period in the prior year, the business posted $2.46 earnings per share. As a group, sell-side analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Insider Transactions at Popular

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the transaction, the executive vice president directly owned 27,382 shares of the company's stock, valued at $2,851,561.48. This trade represents a 20.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler increased 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. Citigroup upped their target price on Popular from $133.00 to $142.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price objective on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Barclays lifted 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 restated an "outperform" rating on shares of Popular in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $128.88.

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.