XTX Topco Ltd Sells 1,951 Shares of Popular, Inc. (NASDAQ:BPOP)

XTX Topco Ltd reduced its position in Popular, Inc. (NASDAQ:BPOP) by 43.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,504 shares of the bank’s stock after selling 1,951 shares during the quarter. XTX Topco Ltd’s holdings in Popular were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in Popular by 13.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,085 shares of the bank’s stock worth $499,000 after buying an additional 729 shares in the last quarter. UBS Group AG grew its position in shares of Popular by 12.7% during the fourth quarter. UBS Group AG now owns 139,694 shares of the bank’s stock worth $11,465,000 after purchasing an additional 15,710 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Popular by 4.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 32,199 shares of the bank’s stock valued at $2,643,000 after purchasing an additional 1,301 shares during the period. Rafferty Asset Management LLC lifted its holdings in Popular by 51.2% in the 4th quarter. Rafferty Asset Management LLC now owns 89,643 shares of the bank’s stock worth $7,357,000 after purchasing an additional 30,354 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in Popular in the 4th quarter worth approximately $809,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Stock Performance

NASDAQ:BPOP opened at $98.58 on Monday. The stock’s fifty day moving average is $98.84 and its 200 day moving average is $91.47. The firm has a market capitalization of $7.12 billion, a PE ratio of 14.63, a PEG ratio of 0.68 and a beta of 0.78. Popular, Inc. has a fifty-two week low of $59.27 and a fifty-two week high of $105.01.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. Popular had a net margin of 12.20% and a return on equity of 11.73%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $751.57 million. During the same period in the previous year, the company earned $2.10 EPS. Equities analysts forecast that Popular, Inc. will post 8.86 EPS for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.52%. Popular’s payout ratio is 36.80%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Hovde Group boosted their target price on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays increased their price objective on shares of Popular from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Piper Sandler assumed coverage on Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.22.

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.09% of the stock is owned by corporate insiders.

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.