Interval Partners LP Increases Stake in Popular, Inc. (NASDAQ:BPOP)

Interval Partners LP increased its holdings in Popular, Inc. (NASDAQ:BPOP) by 191.7% during the first quarter, Holdings Channel.com reports. The firm owned 88,857 shares of the bank’s stock after acquiring an additional 58,397 shares during the quarter. Interval Partners LP’s holdings in Popular were worth $7,827,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BPOP. Headlands Technologies LLC bought a new position in shares of Popular during the first quarter valued at about $42,000. Principal Securities Inc. bought a new stake in shares of Popular in the 4th quarter valued at about $83,000. GAMMA Investing LLC purchased a new stake in Popular during the 4th quarter valued at about $90,000. Clear Street Markets LLC bought a new position in Popular during the 4th quarter worth approximately $139,000. Finally, CWM LLC increased its stake in Popular by 164.8% in the 1st quarter. CWM LLC now owns 1,769 shares of the bank’s stock worth $156,000 after purchasing an additional 1,101 shares during the period. 87.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Gilberto Monzon sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $85.80, for a total value of $429,000.00. Following the sale, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Gilberto Monzon sold 5,000 shares of Popular stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $85.80, for a total transaction of $429,000.00. Following the completion of the transaction, the executive vice president now directly owns 48,320 shares in the company, valued at $4,145,856. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manuel Chinea sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the completion of the sale, the executive vice president now directly owns 27,086 shares in the company, valued at $2,456,700.20. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Popular Stock Up 2.1 %

Shares of NASDAQ:BPOP traded up $2.13 on Tuesday, hitting $104.28. The company had a trading volume of 380,138 shares, compared to its average volume of 394,994. The firm’s 50-day simple moving average is $90.20 and its two-hundred day simple moving average is $87.04. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 0.85 and a beta of 0.80. Popular, Inc. has a 1 year low of $59.27 and a 1 year high of $105.01.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 12.00%. During the same period last year, the business posted $2.10 earnings per share. Equities research analysts anticipate that Popular, Inc. will post 8.41 EPS for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Thursday, May 30th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.38%. Popular’s dividend payout ratio is presently 36.80%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BPOP. Barclays increased their price objective on Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Piper Sandler boosted their price objective on shares of Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Royal Bank of Canada upped their price objective on shares of Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Popular currently has an average rating of “Moderate Buy” and an average target price of $105.22.

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.