Quadrature Capital Ltd Buys New Holdings in Popular, Inc. (NASDAQ:BPOP)

Quadrature Capital Ltd purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,021 shares of the bank’s stock, valued at approximately $503,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BPOP. Financial Management Professionals Inc. bought a new position in shares of Popular during the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new stake in Popular during the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new position in Popular during the third quarter worth $47,000. Meeder Asset Management Inc. acquired a new position in shares of Popular in the second quarter valued at $48,000. Finally, Headlands Technologies LLC raised its position in shares of Popular by 216.1% in the second quarter. Headlands Technologies LLC now owns 1,492 shares of the bank’s stock valued at $132,000 after purchasing an additional 1,020 shares during the period. Institutional investors own 87.27% of the company’s stock.

Popular Price Performance

Shares of NASDAQ BPOP opened at $99.15 on Monday. The business has a fifty day moving average price of $96.52 and a two-hundred day moving average price of $94.97. The stock has a market capitalization of $7.07 billion, a PE ratio of 13.47, a P/E/G ratio of 0.78 and a beta of 0.81. Popular, Inc. has a fifty-two week low of $75.17 and a fifty-two week high of $105.01.

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

Popular Increases Dividend

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

Insider Activity at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction of $347,060.00. Following the sale, the executive vice president now owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on BPOP shares. Royal Bank of Canada reduced their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler lowered their target price on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays boosted their price target on Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

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.