Popular, Inc. (NASDAQ:BPOP) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in Popular, Inc. by purchasing 18,970 shares, resulting in a total of 25,043 shares owned, valued at approximately $2.31 million.
• Several hedge funds have also adjusted their positions in Popular, with substantial increases from firms like Meeder Asset Management and Federated Hermes, indicating strong institutional interest.
• Popular, Inc. reported earnings per share of $3.09, exceeding expectations, along with a quarterly dividend of $0.70 per share, reflecting a yield of 2.45%.

XTX Topco Ltd raised its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 312.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,043 shares of the bank's stock after acquiring an additional 18,970 shares during the period. XTX Topco Ltd's holdings in Popular were worth $2,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP boosted its stake in shares of Popular by 3.4% during the first quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank's stock valued at $543,000 after purchasing an additional 191 shares during the period. Federated Hermes Inc. boosted its stake in shares of Popular by 3.3% during the first quarter. Federated Hermes Inc. now owns 240,071 shares of the bank's stock valued at $22,175,000 after purchasing an additional 7,645 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Popular by 64.4% during the first quarter. Meeder Asset Management Inc. now owns 48,114 shares of the bank's stock valued at $4,444,000 after purchasing an additional 18,842 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Popular during the first quarter valued at $10,122,000. Finally, TD Asset Management Inc boosted its stake in shares of Popular by 4.9% during the first quarter. TD Asset Management Inc now owns 17,478 shares of the bank's stock valued at $1,614,000 after purchasing an additional 814 shares during the period. Institutional investors own 87.27% of the company's stock.

Popular Price Performance

Popular stock traded up $1.45 during trading hours on Monday, reaching $114.64. The stock had a trading volume of 96,119 shares, compared to its average volume of 572,177. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $118.54. The business's 50 day moving average price is $109.65 and its 200-day moving average price is $100.81. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.59 and a beta of 0.65.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping the consensus estimate of $2.60 by $0.49. Popular had a return on equity of 12.60% and a net margin of 16.49%. The business had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same quarter in the previous year, the firm earned $2.46 EPS. On average, sell-side analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, May 29th. Popular's payout ratio is currently 27.13%.

Analyst Ratings Changes

A number of analysts recently weighed in on BPOP shares. Barclays upped their price objective on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler upped their price objective on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods upped their price objective on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Hovde Group upped their price objective on shares of Popular from $126.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.88.

Insider Buying and Selling at Popular

In related news, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of the sale, the executive vice president directly owned 27,382 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the sale, the vice president directly owned 3,604 shares of the company's stock, valued at $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

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.