Point72 Asset Management L.P. Has $18.94 Million Position in Popular, Inc. (NASDAQ:BPOP)

Point72 Asset Management L.P. increased its stake in Popular, Inc. (NASDAQ:BPOP) by 140.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 201,331 shares of the bank’s stock after purchasing an additional 117,705 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.28% of Popular worth $18,937,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BPOP. Barclays PLC lifted its holdings in shares of Popular by 8.5% during the third quarter. Barclays PLC now owns 60,099 shares of the bank’s stock worth $6,024,000 after buying an additional 4,699 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Popular by 10.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 20,966 shares of the bank’s stock worth $1,972,000 after acquiring an additional 2,054 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Popular by 5.3% during the fourth quarter. Perpetual Ltd now owns 104,087 shares of the bank’s stock worth $9,790,000 after purchasing an additional 5,200 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Popular by 20.6% during the fourth quarter. SG Americas Securities LLC now owns 23,674 shares of the bank’s stock worth $2,227,000 after purchasing an additional 4,044 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Popular by 3.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,631 shares of the bank’s stock worth $906,000 after purchasing an additional 349 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BPOP shares. Hovde Group decreased their price target on Popular from $118.00 to $114.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada raised their price target on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com lowered Popular from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Piper Sandler raised their price target on Popular from $110.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Barclays restated an “overweight” rating and issued a $125.00 price target (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.43.

Insider Transactions at Popular

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the sale, the vice president now owns 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.23% of the stock is owned by insiders.

Popular Price Performance

BPOP opened at $104.52 on Friday. The business has a fifty day simple moving average of $91.96 and a 200 day simple moving average of $95.70. The company has a market capitalization of $7.25 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $106.81.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.30. The firm had revenue of $755.46 million during the quarter, compared to analysts’ expectations of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS. Equities analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.68%. Popular’s dividend payout ratio (DPR) is currently 28.90%.

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.