Quantinno Capital Management LP Has $3.81 Million Stake in Popular, Inc. (NASDAQ:BPOP)

Quantinno Capital Management LP raised its holdings in Popular, Inc. (NASDAQ:BPOP) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,027 shares of the bank’s stock after purchasing an additional 2,822 shares during the quarter. Quantinno Capital Management LP owned approximately 0.05% of Popular worth $3,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BPOP. Financial Management Professionals Inc. acquired a new stake in shares of Popular in the third quarter valued at $29,000. Capital Performance Advisors LLP bought a new stake in Popular during the 3rd quarter worth about $35,000. Brooklyn Investment Group acquired a new stake in Popular in the 3rd quarter valued at about $47,000. Meeder Asset Management Inc. bought a new position in shares of Popular in the second quarter worth about $48,000. Finally, Headlands Technologies LLC raised its stake in shares of Popular by 216.1% in 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 and hedge funds own 87.27% of the company’s stock.

Popular Stock Down 0.7 %

NASDAQ:BPOP opened at $99.15 on Monday. Popular, Inc. has a 12-month low of $75.17 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 $94.97. The firm has a market capitalization of $7.07 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.78 and a beta of 0.81.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) 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 return on equity of 11.35% and a net margin of 12.36%. Popular’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. As a group, equities research analysts expect that Popular, Inc. will post 8.46 earnings per share 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 is Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a yield of 2.82%. This is a boost from Popular’s previous quarterly dividend of $0.62. Popular’s payout ratio is currently 33.70%.

Analysts Set New Price Targets

Several analysts have recently commented on BPOP shares. Keefe, Bruyette & Woods increased their price target on shares of Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. 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. Wells Fargo & Company boosted their target price on Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Barclays upped their price target on Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Insider Activity at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the transaction, the executive vice president now directly owns 25,115 shares in the company, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the 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 completion of the sale, the vice president now owns 3,332 shares of the company’s stock, valued at $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

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.