JCSD Capital LLC Buys New Position in Popular, Inc. $BPOP

JCSD Capital LLC bought a new stake in Popular, Inc. (NASDAQ:BPOP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 28,600 shares of the bank’s stock, valued at approximately $3,152,000. Popular comprises approximately 4.2% of JCSD Capital LLC’s portfolio, making the stock its 7th biggest holding.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of Popular by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank’s stock valued at $8,046,000 after purchasing an additional 8,262 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Popular in the first quarter worth $367,000. Cerity Partners LLC increased its position in shares of Popular by 164.7% during the first quarter. Cerity Partners LLC now owns 15,731 shares of the bank’s stock worth $1,453,000 after acquiring an additional 9,788 shares during the period. Xponance Inc. raised its stake in shares of Popular by 17.1% in the first quarter. Xponance Inc. now owns 4,395 shares of the bank’s stock valued at $406,000 after acquiring an additional 641 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Popular by 213.9% in the first quarter. CWM LLC now owns 15,656 shares of the bank’s stock valued at $1,446,000 after acquiring an additional 10,668 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the transaction, the executive vice president owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Popular in a research report on Thursday, July 24th. Barclays reissued an “overweight” rating on shares of Popular in a report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Citigroup boosted their target price on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Truist Financial began coverage on shares of Popular in a research note on Thursday, October 9th. They issued a “buy” rating and a $153.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.56.

Popular Stock Up 1.7%

BPOP opened at $114.54 on Friday. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $129.32. The business’s 50 day moving average is $121.23 and its two-hundred day moving average is $113.36. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 0.47 and a beta of 0.72.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.10. The business had revenue of $817.70 million for the quarter, compared to analysts’ expectations of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.46%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 EPS. Equities analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.1328 per share. Popular’s dividend payout ratio is presently 26.55%.

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.