Emerald Mutual Fund Advisers Trust Has $7.57 Million Stock Position in Popular, Inc. (NASDAQ:BPOP)

Emerald Mutual Fund Advisers Trust boosted its holdings in Popular, Inc. (NASDAQ:BPOP) by 84.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,509 shares of the bank’s stock after buying an additional 34,537 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.10% of Popular worth $7,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in shares of Popular in the 3rd quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new position in shares of Popular during the first quarter worth $42,000. Mather Group LLC. bought a new position in shares of Popular in the 2nd quarter valued at $44,000. Meeder Asset Management Inc. acquired a new stake in shares of Popular during the 2nd quarter valued at $48,000. Finally, GAMMA Investing LLC increased its holdings in 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 purchasing an additional 181 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Insider Buying and Selling at Popular

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the transaction, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.09% of the company’s stock.

Popular Stock Performance

NASDAQ:BPOP opened at $89.48 on Friday. The firm’s fifty day moving average is $97.51 and its 200-day moving average is $93.35. Popular, Inc. has a 52 week low of $66.19 and a 52 week high of $105.01. The firm has a market cap of $6.47 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.63 and a beta of 0.78.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data 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 return on equity of 11.65% and a net margin of 12.36%. The company had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. During the same period last year, the business earned $1.90 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Popular, Inc. will post 8.51 earnings per share for the current year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.77%. Popular’s dividend payout ratio (DPR) is presently 33.70%.

Analyst Ratings Changes

A number of brokerages have recently commented on BPOP. Barclays cut 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 target price on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Hovde Group upped their price target on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Finally, Piper Sandler reduced their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.88.

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.