Bayforest Capital Ltd Makes New $459,000 Investment in Popular, Inc. $BPOP

Bayforest Capital Ltd bought a new position in Popular, Inc. (NASDAQ:BPOP) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 4,167 shares of the bank’s stock, valued at approximately $459,000.

A number of other institutional investors have also recently made changes to their positions in the business. Venturi Wealth Management LLC grew its position in Popular by 4.2% in the first quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank’s stock worth $263,000 after acquiring an additional 116 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Popular by 3.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,376 shares of the bank’s stock valued at $592,000 after purchasing an additional 158 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Popular by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,660 shares of the bank’s stock worth $5,788,000 after purchasing an additional 185 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Popular by 3.4% in the 1st quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank’s stock worth $543,000 after purchasing an additional 191 shares during the period. Finally, QRG Capital Management Inc. increased 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 valued at $398,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Popular Price Performance

BPOP stock opened at $124.14 on Wednesday. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $129.32. The firm’s 50-day moving average is $123.25 and its 200 day moving average is $109.79. The company has a market capitalization of $8.39 billion, a PE ratio of 12.03, a P/E/G ratio of 0.52 and a beta of 0.68.

Popular (NASDAQ:BPOP) last issued its 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 business had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same period in the prior year, the firm earned $2.46 EPS. Sell-side analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

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

Insider Buying and Selling at Popular

In related news, EVP Gilberto Monzon sold 18,001 shares of Popular stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president directly owned 24,773 shares in the company, valued at $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.23% of the company’s stock.

Analyst Ratings Changes

BPOP has been the subject of a number of analyst reports. Truist Financial assumed coverage on Popular in a research report on Thursday, October 9th. They issued a “buy” rating and a $153.00 price target for the company. Citigroup raised their target price on shares of Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Popular in a research note on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a research report on Wednesday, October 8th. Finally, Hovde Group reissued an “outperform” rating on shares of Popular in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Popular has an average rating of “Moderate Buy” and a consensus target price of $132.67.

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.