Bull Harbor Capital LLC Makes New $389,000 Investment in Popular, Inc. $BPOP

Bull Harbor Capital LLC bought a new position in Popular, Inc. (NASDAQ:BPOP) during the 1st quarter, HoldingsChannel reports. The fund bought 2,903 shares of the bank’s stock, valued at approximately $389,000.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Popular by 56.2% during the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after acquiring an additional 1,065,452 shares in the last quarter. Norges Bank purchased a new position in Popular in the 4th quarter worth approximately $104,955,000. Panagora Asset Management Inc. lifted its position in Popular by 85.2% in the 4th quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank’s stock valued at $84,709,000 after acquiring an additional 312,984 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Popular by 2,752.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank’s stock valued at $39,684,000 after acquiring an additional 301,494 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension bought a new position in Popular in the 4th quarter valued at approximately $24,841,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular News Summary

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Strong momentum and earnings performance support the stock. Zacks identifies BPOP as a top-ranked momentum stock, while Popular’s latest quarterly results included adjusted earnings of $4.35 per share—well above the $3.72 analyst consensus and up from $3.09 a year earlier. Popular is a Top-Ranked Momentum Stock
• Positive Sentiment: BPOP’s valuation remains potentially attractive relative to its growth. The stock’s reported price-to-earnings ratio is approximately 11.8, and its price-to-earnings-growth ratio is below 1, metrics that may appeal to investors seeking earnings growth at a reasonable price. Popular Soars to 52-Week High
• Neutral Sentiment: The 52-week high creates a near-term valuation and profit-taking consideration. Zacks questions whether investors should “cash out” after the recent rally, suggesting that expectations for further gains may already be reflected in the share price. Investors will likely focus on whether Popular can sustain earnings growth and improve revenue, which came in below estimates in the latest quarter.

Insider Buying and Selling at Popular

In related news, Director Alejandro M. Sanchez sold 300 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the completion of the sale, the director owned 3,960 shares in the company, valued at approximately $595,425.60. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria Luisa Ferre sold 3,385 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $175.42, for a total value of $593,796.70. Following the sale, the director owned 10,156 shares of the company’s stock, valued at approximately $1,781,565.52. This trade represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,761 shares of company stock valued at $1,173,483 in the last ninety days. 2.13% of the stock is currently owned by corporate insiders.

Popular Trading Up 0.0%

Shares of BPOP stock opened at $175.21 on Friday. Popular, Inc. has a 12-month low of $108.74 and a 12-month high of $176.59. The firm’s 50 day moving average is $163.43 and its 200 day moving average is $147.61. The stock has a market capitalization of $11.31 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.67 and a beta of 0.61.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.63. The business had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same quarter in the previous year, the firm posted $3.09 EPS. As a group, equities analysts predict that Popular, Inc. will post 15.72 earnings per share for the current year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, May 29th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. Popular’s payout ratio is presently 20.27%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BPOP. Weiss Ratings upgraded Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 4th. Barclays boosted their price target on Popular from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Benchmark increased their price objective on Popular from $201.00 to $214.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Citigroup lifted their price objective on Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, Keefe, Bruyette & Woods boosted their target price on Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $184.42.

About Popular

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.