Popular, Inc. $BPOP Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in Popular, Inc. by 61.8% in Q2, owning 116,819 shares worth $12.875M. Other investors like Norges Bank and AQR Capital also boosted their stakes. Analysts have mixed ratings, with a consensus "Buy" and a price target of $133.56. Insider transactions include significant stock sales by Director Richard L. Carrion and EVP Gilberto Monzon. BPOP stock opened at $114.76, with a market cap of $7.65B and a PE ratio of 10.16.

Edgestream Partners L.P. lifted its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 61.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,819 shares of the bank's stock after purchasing an additional 44,611 shares during the period. Popular comprises 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 25th biggest position. Edgestream Partners L.P. owned about 0.17% of Popular worth $12,875,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. Norges Bank purchased a new stake in Popular during the 2nd quarter worth approximately $93,578,000. AQR Capital Management LLC boosted its stake in shares of Popular by 52.8% in the first quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank's stock worth $129,722,000 after acquiring an additional 495,325 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Popular by 9,769.4% in the second quarter. Panagora Asset Management Inc. now owns 268,448 shares of the bank's stock worth $29,586,000 after acquiring an additional 265,728 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Popular by 363.4% during the second quarter. SG Americas Securities LLC now owns 228,028 shares of the bank's stock worth $25,131,000 after purchasing an additional 178,820 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Popular by 135.7% in the 2nd quarter. Mackenzie Financial Corp now owns 258,265 shares of the bank's stock valued at $28,463,000 after purchasing an additional 148,682 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BPOP has been the topic of several recent research reports. Hovde Group reaffirmed an "outperform" rating on shares of Popular in a research note on Friday, August 29th. Barclays restated an "overweight" rating on shares of Popular in a research report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of Popular from $150.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, October 24th. Truist Financial initiated coverage on Popular in a report on Thursday, October 9th. They set a "buy" rating and a $153.00 target price on the stock. Finally, UBS Group dropped their price target on Popular from $135.00 to $127.00 and set a "neutral" rating for the company in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $133.56.

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Check Out Our Latest Stock Report on Popular

Insider Transactions at Popular

In other Popular news, Director Richard L. Carrion sold 25,000 shares of the company's stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $113.50, for a total value of $2,837,500.00. Following the transaction, the director owned 193,020 shares of the company's stock, valued at $21,907,770. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the transaction, the executive vice president directly owned 24,773 shares of the company's stock, valued at approximately $3,083,495.31. This trade represents a 42.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 44,001 shares of company stock worth $5,192,924. 2.09% of the stock is currently owned by company insiders.

Popular Price Performance

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Shares of BPOP stock opened at $114.76 on Monday. The company has a market capitalization of $7.65 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.47 and a beta of 0.72. The firm's 50-day moving average is $117.89 and its two-hundred day moving average is $115.25. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $129.32.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.10. The business had revenue of $720.83 million during the quarter, compared to the consensus estimate of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.46%. The business's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 EPS. Sell-side analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th. Popular's dividend payout ratio is 26.55%.

Popular Profile

(Free Report)

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.

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