AXQ Capital LP Takes Position in Popular, Inc. (NASDAQ:BPOP)

AXQ Capital LP purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,383 shares of the bank’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Popular in the 4th quarter worth $27,000. Picton Mahoney Asset Management grew its holdings in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 118 shares during the period. Brooklyn Investment Group acquired a new stake in Popular during the third quarter worth about $47,000. Smartleaf Asset Management LLC raised its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Popular in the 3rd quarter valued at about $81,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Stock Performance

Shares of Popular stock opened at $92.81 on Tuesday. The business has a 50-day simple moving average of $98.45 and a 200-day simple moving average of $97.07. Popular, Inc. has a one year low of $80.60 and a one year high of $106.81. The company has a market cap of $6.46 billion, a PE ratio of 10.84, a P/E/G ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. On average, sell-side analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s dividend payout ratio is presently 32.71%.

Insiders Place Their Bets

In other news, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BPOP shares. Royal Bank of Canada lifted their price target on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com upgraded Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Barclays boosted their price target on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, UBS Group initiated coverage on shares of Popular in a report on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Popular currently has a consensus rating of “Moderate Buy” and an average price target of $113.00.

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.