PharVision Advisers LLC Purchases New Position in Popular, Inc. $BPOP

PharVision Advisers LLC purchased a new stake in Popular, Inc. (NASDAQ:BPOP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,868 shares of the bank’s stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in Popular by 52.8% during the 1st quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank’s stock worth $129,722,000 after buying an additional 495,325 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Popular by 32.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank’s stock worth $68,041,000 after buying an additional 175,327 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Popular during the 4th quarter worth approximately $11,305,000. Point72 Asset Management L.P. increased its stake in Popular by 140.8% during the 4th quarter. Point72 Asset Management L.P. now owns 201,331 shares of the bank’s stock worth $18,937,000 after buying an additional 117,705 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Popular during the 1st quarter worth approximately $10,122,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Stock Performance

Shares of Popular stock opened at $125.34 on Friday. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.65 and a beta of 0.68. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $128.66. The stock has a 50 day moving average of $117.22 and a 200 day moving average of $103.92.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.49. The company had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same period in the prior year, the business posted $2.46 earnings per share. Analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently disclosed a sep 25 dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.1328 dividend. Popular’s payout ratio is 29.07%.

Insiders Place Their Bets

In related news, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the transaction, the executive vice president directly owned 24,773 shares in the company, valued at approximately $3,083,495.31. This represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Hovde Group reiterated an “outperform” rating on shares of Popular in a research note on Friday, August 29th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Popular in a research note on Thursday, July 24th. Citigroup boosted their price objective on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped their price target on Popular from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Piper Sandler upped their price target on Popular from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $128.88.

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.