Xponance Inc. Takes $206,000 Position in Popular, Inc. (NASDAQ:BPOP)

Xponance Inc. purchased a new stake in shares of Popular, Inc. (NASDAQ:BPOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,509 shares of the bank’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently added to or reduced their stakes in BPOP. Raymond James & Associates lifted its stake in shares of Popular by 11.3% in the third quarter. Raymond James & Associates now owns 29,986 shares of the bank’s stock worth $1,889,000 after acquiring an additional 3,042 shares in the last quarter. Bailard Inc. grew its holdings in shares of Popular by 93.6% during the third quarter. Bailard Inc. now owns 9,100 shares of the bank’s stock valued at $573,000 after purchasing an additional 4,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Popular by 25.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,950 shares of the bank’s stock valued at $879,000 after purchasing an additional 2,795 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Popular during the third quarter valued at approximately $769,000. Finally, Advisor Partners II LLC bought a new position in shares of Popular during the third quarter valued at approximately $434,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Analysts Set New Price Targets

BPOP has been the subject of several recent research reports. Citigroup upped their target price on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Royal Bank of Canada increased their price objective on Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. UBS Group increased their price objective on Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Piper Sandler increased their price objective on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Company increased their price objective on Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Popular has an average rating of “Moderate Buy” and a consensus price target of $99.89.

Insider Activity

In other news, EVP Luis E. Cestero sold 599 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the completion of the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $2,272,208.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Luis E. Cestero sold 599 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the completion of the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $2,272,208.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Popular Stock Performance

Shares of NASDAQ BPOP opened at $86.58 on Monday. The stock has a fifty day moving average price of $84.61 and a two-hundred day moving average price of $79.26. The firm has a market cap of $6.26 billion, a P/E ratio of 12.85 and a beta of 0.82. Popular, Inc. has a 1 year low of $52.32 and a 1 year high of $89.70.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.89. Popular had a return on equity of 11.95% and a net margin of 11.95%. The firm had revenue of $702.92 million during the quarter, compared to analyst estimates of $699.76 million. On average, research analysts predict that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.86%. Popular’s dividend payout ratio (DPR) is presently 36.80%.

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.