11,814 Shares in Popular, Inc. (NASDAQ:BPOP) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Popular, Inc. (NASDAQ:BPOP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,814 shares of the bank’s stock, valued at approximately $1,185,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BPOP. Massachusetts Financial Services Co. MA grew its stake in Popular by 52.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock valued at $73,867,000 after acquiring an additional 286,450 shares during the period. Los Angeles Capital Management LLC grew its stake in Popular by 235.5% in the third quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank’s stock valued at $33,299,000 after acquiring an additional 233,119 shares during the period. AQR Capital Management LLC grew its stake in Popular by 23.6% in the second quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock valued at $75,129,000 after acquiring an additional 164,270 shares during the period. American Century Companies Inc. grew its stake in Popular by 10.3% in the second quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock valued at $107,781,000 after acquiring an additional 113,838 shares during the period. Finally, Jupiter Asset Management Ltd. grew its stake in Popular by 38.5% in the second quarter. Jupiter Asset Management Ltd. now owns 314,318 shares of the bank’s stock valued at $27,795,000 after acquiring an additional 87,312 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Performance

BPOP opened at $99.36 on Monday. Popular, Inc. has a 52-week low of $72.80 and a 52-week high of $105.01. The firm has a market capitalization of $7.09 billion, a PE ratio of 13.50, a PEG ratio of 0.78 and a beta of 0.79. The business’s 50-day simple moving average is $96.55 and its 200 day simple moving average is $94.70.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The company had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. During the same quarter in the previous year, the company posted $1.90 EPS. The business’s revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Popular, Inc. will post 8.46 earnings per share for the current year.

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.70 dividend. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.80 annualized dividend and a yield of 2.82%. Popular’s dividend payout ratio is currently 33.70%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BPOP. Piper Sandler reduced their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada reduced their price objective on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Barclays reduced their price objective on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.88.

Insider Buying and Selling at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now owns 3,332 shares in the company, valued at $325,569.72. This represents a 35.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

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.