Stieven Capital Advisors L.P. Grows Stock Position in Popular, Inc. (NASDAQ:BPOP)

Stieven Capital Advisors L.P. increased its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 11.3% during the third quarter, Holdings Channel reports. The fund owned 208,543 shares of the bank’s stock after purchasing an additional 21,200 shares during the period. Popular makes up about 4.0% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 6th biggest position. Stieven Capital Advisors L.P.’s holdings in Popular were worth $20,911,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. American Century Companies Inc. grew its position in Popular by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock worth $107,781,000 after acquiring an additional 113,838 shares during the last quarter. Principal Financial Group Inc. grew its position in Popular by 7.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock worth $105,769,000 after acquiring an additional 71,782 shares during the last quarter. AQR Capital Management LLC grew its position in Popular by 23.6% during the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock worth $75,129,000 after acquiring an additional 164,270 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Popular by 52.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock worth $73,867,000 after acquiring an additional 286,450 shares during the last quarter. Finally, Earnest Partners LLC boosted its position in Popular by 2.1% in the 1st quarter. Earnest Partners LLC now owns 713,923 shares of the bank’s stock valued at $62,889,000 after buying an additional 14,810 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Popular Trading Down 0.2 %

Shares of Popular stock opened at $96.09 on Friday. The company has a market capitalization of $6.85 billion, a PE ratio of 13.06, a PEG ratio of 0.75 and a beta of 0.79. Popular, Inc. has a 12 month low of $71.08 and a 12 month high of $105.01. The stock’s fifty day simple moving average is $96.52 and its 200 day simple moving average is $94.05.

Popular (NASDAQ:BPOP) last released its quarterly 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 net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. During the same period in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts predict that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, September 13th. Popular’s dividend payout ratio is 33.70%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays decreased their price objective on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada decreased their price objective on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Piper Sandler decreased their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Hovde Group increased their price objective on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.88.

Insider Buying and Selling at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular 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 sale, the vice president now owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the sale, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,242 shares of company stock valued at $1,102,880 in the last 90 days. 2.09% of the stock is currently owned by company insiders.

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.