3,924 Shares in Popular, Inc. $BPOP Purchased by R Squared Ltd

R Squared Ltd acquired a new position in shares of Popular, Inc. (NASDAQ:BPOP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,924 shares of the bank’s stock, valued at approximately $610,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System grew its holdings in shares of Popular by 12.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 3,758 shares of the bank’s stock worth $584,000 after purchasing an additional 425 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of Popular in the third quarter worth $728,000. New York Life Investment Management LLC raised its stake in Popular by 10.2% in the third quarter. New York Life Investment Management LLC now owns 9,168 shares of the bank’s stock valued at $1,425,000 after purchasing an additional 846 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in Popular in the third quarter valued at about $181,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Popular by 17.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 133,972 shares of the bank’s stock valued at $20,969,000 after purchasing an additional 20,233 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Down 1.0%

Shares of BPOP stock opened at $158.50 on Friday. Popular, Inc. has a twelve month low of $109.01 and a twelve month high of $179.24. The stock’s fifty day simple moving average is $159.74 and its 200 day simple moving average is $154.61. The firm has a market capitalization of $9.89 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.48 and a beta of 0.63.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, October 22nd. The bank reported $4.21 EPS for the quarter, beating the consensus estimate of $3.95 by $0.26. Popular had a return on equity of 16.15% and a net margin of 22.36%. The firm had revenue of $874.59 million during the quarter, compared to the consensus estimate of $904.43 million. During the same period last year, the company earned $3.14 earnings per share. As a group, equities research analysts expect that Popular, Inc. will post 16.05 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, November 13th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.3%. Popular’s dividend payout ratio is currently 22.68%.

Insider Activity

In other news, VP Adorno Rodriguez sold 600 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $168.79, for a total value of $101,274.00. Following the completion of the transaction, the vice president owned 2,492 shares of the company’s stock, valued at $420,624.68. This represents a 19.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Piper Sandler reissued an “overweight” rating and issued a $190.00 target price (down from $198.00) on shares of Popular in a report on Monday, October 26th. Keefe, Bruyette & Woods raised their target price on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings restated a “buy (a-)” rating on shares of Popular in a research report on Thursday, October 29th. Finally, Benchmark boosted their target price on shares of Popular from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $186.42.

Popular Profile

Popular, Inc. is a financial holding company headquartered in San Juan, Puerto Rico. Founded in 1893, it provides banking and other financial services primarily in Puerto Rico and the U.S. mainland. Its principal subsidiary, Banco Popular de Puerto Rico, serves individuals and businesses with consumer and commercial banking, mortgage lending, and related financial services. Popular also operates Popular Bank in the mainland United States and provides auto financing through Popular Auto. Ignacio Alvarez is Popular’s president and chief executive officer.