Inspire Investing LLC Purchases Shares of 8,214 Popular, Inc. $BPOP

Inspire Investing LLC purchased a new stake in shares of Popular, Inc. (NASDAQ:BPOP) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,214 shares of the bank’s stock, valued at approximately $905,000.

A number of other hedge funds have also added to or reduced their stakes in BPOP. Assenagon Asset Management S.A. bought a new position in shares of Popular during the 1st quarter worth approximately $5,119,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Popular by 105.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank’s stock worth $1,132,000 after buying an additional 6,281 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Popular by 7.5% during the 1st quarter. Ritholtz Wealth Management now owns 20,725 shares of the bank’s stock worth $1,914,000 after buying an additional 1,439 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Popular by 50.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank’s stock worth $1,335,000 after buying an additional 4,818 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Popular by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $398,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Trading Down 5.7%

NASDAQ:BPOP opened at $117.63 on Friday. The stock has a market capitalization of $7.95 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.68. The firm’s 50 day moving average is $122.95 and its 200 day moving average is $109.37. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $129.32.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.49. The company had revenue of $800.03 million for the quarter, compared to analysts’ expectations of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same quarter in the previous year, the firm posted $2.46 EPS. Research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently announced a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.1328 per share. Popular’s payout ratio is 29.07%.

Insider Transactions at Popular

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the sale, the executive vice president owned 24,773 shares of the company’s stock, valued at $3,083,495.31. The trade was a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BPOP has been the topic of several recent analyst reports. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada reissued an “outperform” rating on shares of Popular in a research report on Thursday, July 24th. Barclays reissued an “overweight” rating on shares of Popular in a research report on Wednesday. Hovde Group reissued an “outperform” rating on shares of Popular in a research report on Friday, August 29th. Finally, Citigroup lifted their price target on shares of Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.67.

Popular 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.