Infrastructure Capital Advisors LLC Makes New Investment in Popular, Inc. (NASDAQ:BPOP)

Infrastructure Capital Advisors LLC purchased a new position in Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,340 shares of the bank’s stock, valued at approximately $235,000.

Other hedge funds have also bought and sold shares of the company. PEAK6 Investments LLC bought a new position in shares of Popular in the 1st quarter valued at about $357,000. Atria Investments Inc bought a new position in shares of Popular in the 1st quarter valued at about $1,104,000. Boston Partners lifted its holdings in shares of Popular by 262.7% in the 1st quarter. Boston Partners now owns 103,293 shares of the bank’s stock valued at $9,097,000 after acquiring an additional 74,818 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after acquiring an additional 181 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Popular in the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insider Transactions at Popular

In related news, EVP Beatriz Castellvi sold 3,500 shares of the firm’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 completion of the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the transaction, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $99.72 on Friday. Popular, Inc. has a one year low of $71.23 and a one year high of $105.01. The firm’s 50 day simple moving average is $96.57 and its 200-day simple moving average is $94.60. The firm has a market cap of $7.11 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.80 and a beta of 0.79.

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). 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 analyst estimates of $766.62 million. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid 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 2.81%. The ex-dividend date of this dividend is Friday, December 6th. Popular’s payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BPOP. 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 report on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Barclays reduced their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.88.

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.