27,562 Shares in Popular, Inc. $BPOP Acquired by Kennedy Capital Management LLC

Kennedy Capital Management LLC purchased a new position in Popular, Inc. (NASDAQ:BPOP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,562 shares of the bank’s stock, valued at approximately $3,038,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Popular by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank’s stock valued at $329,674,000 after buying an additional 34,322 shares during the period. Wellington Management Group LLP grew its stake in shares of Popular by 1.7% during the 1st quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank’s stock valued at $179,243,000 after acquiring an additional 32,078 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Popular by 0.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,496,309 shares of the bank’s stock worth $164,908,000 after purchasing an additional 11,168 shares in the last quarter. AQR Capital Management LLC increased its stake in Popular by 52.8% in 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. Finally, Geode Capital Management LLC raised its stake in Popular by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,337,901 shares of the bank’s stock valued at $147,471,000 after purchasing an additional 7,500 shares during the period. Institutional investors own 87.27% of the company’s stock.

Insider Activity

In related news, Director Richard L. Carrion sold 25,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the transaction, the director directly owned 193,020 shares of the company’s stock, valued at $21,907,770. This represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $114.84, for a total value of $114,840.00. Following the completion of the transaction, the vice president directly owned 2,604 shares in the company, valued at $299,043.36. This represents a 27.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is currently owned by company insiders.

Popular Stock Performance

BPOP stock opened at $116.29 on Friday. Popular, Inc. has a one year low of $78.23 and a one year high of $129.32. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.51 and a beta of 0.67. The firm has a 50-day simple moving average of $116.81 and a two-hundred day simple moving average of $115.57.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, topping the consensus estimate of $3.04 by $0.10. Popular had a net margin of 17.63% and a return on equity of 13.27%. The firm had revenue of $720.83 million during the quarter, compared to analyst estimates of $803.95 million. During the same quarter in the previous year, the business posted $2.16 EPS. Popular’s revenue was down 1.3% on a year-over-year basis. As a group, equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.6%. Popular’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

BPOP has been the topic of several research analyst reports. Barclays reiterated an “overweight” rating on shares of Popular in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price target on shares of Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Truist Financial assumed coverage on Popular in a report on Thursday, October 9th. They set a “buy” rating and a $153.00 price objective for the company. Hovde Group restated an “outperform” rating on shares of Popular in a research note on Friday, August 29th. Finally, Zacks Research upgraded Popular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $133.56.

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.