Caprock Group LLC Invests $208,000 in Popular, Inc. (NASDAQ:BPOP)

Caprock Group LLC purchased a new stake in Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,064 shares of the bank’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its holdings in shares of Popular by 3.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank’s stock valued at $361,000 after purchasing an additional 118 shares during the period. Assetmark Inc. raised its position in Popular by 4.0% during the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock worth $376,000 after buying an additional 143 shares during the last quarter. Pathstone Holdings LLC raised its position in Popular by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after buying an additional 148 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after acquiring an additional 181 shares during the period. Finally, Wedmont Private Capital boosted its holdings in shares of Popular by 9.5% in the second quarter. Wedmont Private Capital now owns 2,987 shares of the bank’s stock valued at $278,000 after acquiring an additional 258 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on BPOP. Royal Bank of Canada reduced their price objective on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Barclays decreased their price target on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company cut their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler decreased their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.88.

Insider Transactions at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now owns 3,332 shares in the company, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Popular Stock Up 0.9 %

Popular stock opened at $98.96 on Monday. The firm’s 50-day simple moving average is $96.52 and its 200 day simple moving average is $94.35. Popular, Inc. has a 52 week low of $71.08 and a 52 week high of $105.01. The firm has a market capitalization of $7.06 billion, a PE ratio of 13.45, a P/E/G ratio of 0.77 and a beta of 0.79.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The business had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. During the same quarter in the prior year, the company earned $1.90 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts expect that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.70 per share. This is an increase from Popular’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. This represents a $2.80 annualized dividend and a yield of 2.83%. Popular’s dividend payout ratio (DPR) is presently 33.70%.

About Popular

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.