Seven Eight Capital LP Takes Position in Popular, Inc. (NASDAQ:BPOP)

Seven Eight Capital LP acquired a new stake in Popular, Inc. (NASDAQ:BPOPFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,855 shares of the bank’s stock, valued at approximately $809,000.

Several other hedge funds also recently modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new stake in Popular in the 4th quarter valued at about $44,000. Principal Securities Inc. acquired a new stake in Popular in the 4th quarter valued at about $83,000. GAMMA Investing LLC acquired a new stake in Popular in the 4th quarter valued at about $90,000. Assetmark Inc. lifted its stake in Popular by 53.4% in the 4th quarter. Assetmark Inc. now owns 2,178 shares of the bank’s stock valued at $179,000 after purchasing an additional 758 shares during the last quarter. Finally, Inceptionr LLC acquired a new stake in Popular in the 4th quarter valued at about $201,000. Institutional investors own 87.27% of the company’s stock.

Insider Activity

In related news, EVP Gilberto Monzon sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $85.80, for a total transaction of $429,000.00. Following the sale, the executive vice president now owns 48,320 shares in the company, valued at approximately $4,145,856. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Manuel Chinea sold 12,000 shares of Popular stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the transaction, the executive vice president now owns 27,086 shares in the company, valued at approximately $2,456,700.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gilberto Monzon sold 5,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the sale, the executive vice president now owns 48,320 shares of the company’s stock, valued at $4,145,856. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Popular Price Performance

Popular stock opened at $84.85 on Tuesday. The firm has a market cap of $6.13 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.81 and a beta of 0.79. The stock’s fifty day moving average price is $87.27 and its two-hundred day moving average price is $84.03. Popular, Inc. has a one year low of $58.00 and a one year high of $93.09.

Popular (NASDAQ:BPOPGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.09). The company had revenue of $714.56 million during the quarter, compared to the consensus estimate of $706.00 million. Popular had a return on equity of 11.67% and a net margin of 11.95%. Sell-side analysts expect that Popular, Inc. will post 8.31 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Thursday, May 30th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, May 30th. Popular’s dividend payout ratio is currently 36.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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. Hovde Group raised their target price on shares of Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com upgraded shares of Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $110.00 price objective (up from $103.00) on shares of Popular in a research report on Wednesday, April 24th. Finally, Citigroup raised their price objective on shares of Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.89.

Check Out Our Latest Stock Analysis on Popular

About Popular

(Free Report)

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.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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