GAMMA Investing LLC Acquires New Holdings in Popular, Inc. (NASDAQ:BPOP)

GAMMA Investing LLC purchased a new position in Popular, Inc. (NASDAQ:BPOP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,051 shares of the bank’s stock, valued at approximately $90,000.

Several other institutional investors have also added to or reduced their stakes in BPOP. Raymond James & Associates raised its position in Popular by 11.3% in the third quarter. Raymond James & Associates now owns 29,986 shares of the bank’s stock worth $1,889,000 after acquiring an additional 3,042 shares during the period. Bailard Inc. raised its position in shares of Popular by 93.6% during the 3rd quarter. Bailard Inc. now owns 9,100 shares of the bank’s stock valued at $573,000 after purchasing an additional 4,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Popular by 25.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,950 shares of the bank’s stock valued at $879,000 after purchasing an additional 2,795 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Popular during the 3rd quarter valued at $769,000. Finally, Advisor Partners II LLC bought a new stake in shares of Popular during the 3rd quarter valued at $434,000. 87.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Popular news, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. UBS Group raised their price objective on shares of Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. StockNews.com upgraded shares of Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Piper Sandler raised 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. Finally, Barclays raised their target price on shares of Popular from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Popular currently has an average rating of “Moderate Buy” and a consensus price target of $99.89.

Popular Stock Performance

BPOP opened at $86.22 on Tuesday. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 12.79 and a beta of 0.82. The company has a fifty day moving average of $84.63 and a 200 day moving average of $79.42. Popular, Inc. has a fifty-two week low of $52.32 and a fifty-two week high of $89.70.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.88%. Popular’s payout ratio is currently 36.80%.

Popular 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.