Quadrature Capital Ltd Takes $503,000 Position in Popular, Inc. (NASDAQ:BPOP)

Quadrature Capital Ltd purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,021 shares of the bank’s stock, valued at approximately $503,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. acquired a new position in shares of Popular during the third quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new position in Popular during the 3rd quarter worth $35,000. Brooklyn Investment Group bought a new position in Popular in the 3rd quarter valued at $47,000. Meeder Asset Management Inc. acquired a new stake in shares of Popular in the 2nd quarter valued at $48,000. Finally, Headlands Technologies LLC raised its position in shares of Popular by 216.1% during the second quarter. Headlands Technologies LLC now owns 1,492 shares of the bank’s stock worth $132,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Insider Buying and Selling at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction dated 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 directly owns 25,115 shares of the company’s stock, valued at $2,490,403.40. The trade was a 12.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 owns 3,332 shares of the company’s stock, valued at $325,569.72. The trade was a 35.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Popular Stock Performance

NASDAQ BPOP opened at $99.15 on Monday. Popular, Inc. has a 52-week low of $75.17 and a 52-week high of $105.01. The business has a 50 day simple moving average of $96.52 and a 200 day simple moving average of $94.97. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.78 and a beta of 0.81.

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

Popular Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada lowered 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. Piper Sandler lowered their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Barclays upped their price objective on Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Popular currently has an average rating of “Moderate Buy” and an average target price 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.