Centiva Capital LP Sells 2,618 Shares of Popular, Inc. (NASDAQ:BPOP)

Centiva Capital LP trimmed its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 25.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,573 shares of the bank’s stock after selling 2,618 shares during the quarter. Centiva Capital LP’s holdings in Popular were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BPOP. American Century Companies Inc. lifted its holdings in Popular by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock worth $107,781,000 after buying an additional 113,838 shares during the period. Principal Financial Group Inc. lifted its holdings in Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock worth $105,769,000 after buying an additional 71,782 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Popular by 8.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank’s stock worth $90,537,000 after buying an additional 67,620 shares during the period. AQR Capital Management LLC lifted its holdings in Popular by 23.6% in the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock worth $75,129,000 after buying an additional 164,270 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in Popular by 3.7% in the 3rd quarter. Verition Fund Management LLC now owns 629,537 shares of the bank’s stock worth $63,124,000 after buying an additional 22,355 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Down 0.7 %

BPOP stock opened at $99.15 on Friday. Popular, Inc. has a twelve month low of $75.17 and a twelve month high of $105.01. The firm has a market cap of $7.07 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.77 and a beta of 0.81. The business has a 50 day moving average of $96.52 and a 200 day moving average of $94.91.

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 analysts’ consensus estimates of $2.33 by ($0.17). The company had revenue of $736.56 million for 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 firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business earned $1.90 EPS. On average, research analysts expect that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $0.70 dividend. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. 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%.

Insiders Place Their Bets

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular 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 completion of 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 disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of research analyst reports. Piper Sandler lowered their target price on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada lowered their target price on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised their target price on Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays raised their target price on Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Popular 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.