Strategic Global Advisors LLC Raises Position in Popular, Inc. (NASDAQ:BPOP)

Strategic Global Advisors LLC increased its position in Popular, Inc. (NASDAQ:BPOP) by 6.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,385 shares of the bank’s stock after buying an additional 1,462 shares during the quarter. Strategic Global Advisors LLC’s holdings in Popular were worth $2,200,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in shares of Popular in the fourth quarter valued at about $27,000. Picton Mahoney Asset Management grew its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Popular during the fourth quarter worth about $166,000. Finally, Yousif Capital Management LLC purchased a new stake in shares of Popular during the fourth quarter worth about $202,000. Institutional investors own 87.27% of the company’s stock.

Analysts Set New Price Targets

BPOP has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on Popular from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Hovde Group cut their target price on Popular from $118.00 to $114.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. StockNews.com cut Popular from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Barclays reiterated an “overweight” rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a research report on Thursday, April 24th. Finally, Royal Bank of Canada increased their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.43.

Insider Activity

In other news, VP Adorno Denissa Rodriguez sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president now directly owns 3,604 shares of the company’s stock, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.23% of the company’s stock.

Popular Price Performance

NASDAQ BPOP opened at $104.52 on Friday. The stock has a market capitalization of $7.25 billion, a PE ratio of 12.21, a P/E/G ratio of 0.75 and a beta of 0.60. The business has a 50 day simple moving average of $91.96 and a two-hundred day simple moving average of $95.70. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $106.81.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.30. The business had revenue of $755.46 million during the quarter, compared to analysts’ expectations of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. On average, analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, May 29th. Popular’s payout ratio is 28.90%.

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.