Point72 Asia Singapore Pte. Ltd. Buys Shares of 11,814 Popular, Inc. (NASDAQ:BPOP)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Popular, Inc. (NASDAQ:BPOP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,814 shares of the bank’s stock, valued at approximately $1,185,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Popular in the 3rd quarter valued at approximately $289,000. Verition Fund Management LLC grew its holdings in shares of Popular by 3.7% during the 3rd quarter. Verition Fund Management LLC now owns 629,537 shares of the bank’s stock worth $63,124,000 after purchasing an additional 22,355 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Popular by 25.2% during the 3rd quarter. Captrust Financial Advisors now owns 6,839 shares of the bank’s stock worth $686,000 after purchasing an additional 1,378 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Popular by 72.4% during the 3rd quarter. Martingale Asset Management L P now owns 104,473 shares of the bank’s stock worth $10,476,000 after purchasing an additional 43,863 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Popular during the 3rd quarter worth approximately $235,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BPOP shares. Barclays decreased their price objective on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a 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 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 report on Thursday, October 24th. Finally, 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 report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Popular presently has a consensus rating of “Moderate Buy” and an average price target of $104.88.

Insider Buying and Selling at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’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 completion of the sale, the vice president now owns 3,332 shares in the company, valued at $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 SEC, which is available through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value 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 position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Popular Price Performance

Popular stock opened at $99.36 on Monday. The business has a 50 day simple moving average of $96.55 and a 200 day simple moving average of $94.70. Popular, Inc. has a one year low of $72.80 and a one year high of $105.01. The company has a market capitalization of $7.09 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.78 and a beta of 0.79.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data 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 business had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter in the previous year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Increases Dividend

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

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.