Fourth Sail Capital LP Takes $22.18 Million Position in Popular, Inc. (NASDAQ:BPOP)

Fourth Sail Capital LP acquired a new stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 270,300 shares of the bank's stock, valued at approximately $22,184,000. Popular accounts for 6.9% of Fourth Sail Capital LP's investment portfolio, making the stock its 3rd largest position. Fourth Sail Capital LP owned about 0.37% of Popular at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BPOP. Bruce G. Allen Investments LLC bought a new stake in shares of Popular during the fourth quarter valued at approximately $44,000. Assetmark Inc. grew its position in Popular by 55.4% in the third quarter. Assetmark Inc. now owns 1,420 shares of the bank's stock valued at $89,000 after acquiring an additional 506 shares during the period. GAMMA Investing LLC bought a new stake in Popular in the fourth quarter valued at $90,000. NBC Securities Inc. bought a new stake in Popular in the third quarter valued at $202,000. Finally, Park Avenue Securities LLC bought a new stake in Popular in the third quarter valued at $206,000. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Up 2.2 %

Shares of NASDAQ:BPOP traded up $1.91 during mid-day trading on Wednesday, reaching $86.90. 268,786 shares of the stock were exchanged, compared to its average volume of 442,987. The company has a market cap of $6.28 billion, a P/E ratio of 12.89 and a beta of 0.82. Popular, Inc. has a one year low of $52.32 and a one year high of $89.70. The stock's 50 day simple moving average is $84.69 and its 200-day simple moving average is $79.63.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were issued a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.85%. Popular's payout ratio is presently 36.80%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BPOP shares. Hovde Group increased their target price on Popular from $112.00 to $113.00 and gave the company an "outperform" rating in a research note on Wednesday, April 24th. Wells Fargo & Company increased their target price on Popular from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their price target on Popular from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, January 26th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $110.00 price target (up from $103.00) on shares of Popular in a report on Wednesday, April 24th. Finally, UBS Group increased their price target on Popular from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.89.

Insider Buying and Selling

In related news, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Popular news, EVP Luis E. Cestero sold 599 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $2,272,208.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares of the company's stock, valued at $2,260,092.24. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

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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