JCSD Capital LLC Has $2.93 Million Stock Holdings in Popular, Inc. $BPOP

JCSD Capital LLC cut its holdings in Popular, Inc. (NASDAQ:BPOP) by 19.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,100 shares of the bank’s stock after selling 5,500 shares during the quarter. Popular makes up 2.5% of JCSD Capital LLC’s holdings, making the stock its 5th biggest holding. JCSD Capital LLC’s holdings in Popular were worth $2,934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steph & Co. acquired a new position in Popular during the second quarter worth about $39,000. Allworth Financial LP grew its holdings in shares of Popular by 2,158.8% during the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after purchasing an additional 367 shares during the last quarter. Farther Finance Advisors LLC increased its position in Popular by 112.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after purchasing an additional 221 shares in the last quarter. IFP Advisors Inc lifted its stake in Popular by 3,925.0% in the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after purchasing an additional 471 shares during the last quarter. Finally, Quarry LP acquired a new stake in Popular in the first quarter valued at approximately $84,000. Institutional investors own 87.27% of the company’s stock.

Popular Stock Up 0.1%

Shares of NASDAQ:BPOP opened at $126.02 on Friday. The firm has a market cap of $8.40 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.56 and a beta of 0.67. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $129.32. The business has a fifty day simple moving average of $116.74 and a 200 day simple moving average of $117.54.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.10. Popular had a return on equity of 13.27% and a net margin of 17.63%.The company had revenue of $720.83 million during the quarter, compared to analysts’ expectations of $803.95 million. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 5th. This represents a $3.00 annualized dividend and a yield of 2.4%. Popular’s dividend payout ratio (DPR) is presently 26.55%.

Insider Activity at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $114.84, for a total value of $114,840.00. Following the transaction, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. The trade was a 27.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Carrion sold 25,000 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the completion of the sale, the director directly owned 193,020 shares in the company, valued at approximately $21,907,770. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on BPOP shares. Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. UBS Group reduced their price objective on Popular from $135.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Barclays reiterated an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Finally, Truist Financial initiated coverage on Popular in a research note on Thursday, October 9th. They issued a “buy” rating and a $153.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.