Xponance Inc. Acquires 311 Shares of Popular, Inc. (NASDAQ:BPOP)

Xponance Inc. increased its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,754 shares of the bank’s stock after buying an additional 311 shares during the quarter. Xponance Inc.’s holdings in Popular were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new stake in shares of Popular during the 4th quarter worth $27,000. Picton Mahoney Asset Management lifted its position in Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares during the period. Brooklyn Investment Group acquired a new stake in Popular during the third quarter worth about $47,000. Smartleaf Asset Management LLC increased its holdings in Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after buying an additional 218 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Popular in the 3rd quarter valued at approximately $81,000. Institutional investors own 87.27% of the company’s stock.

Popular Stock Down 0.4 %

Shares of BPOP opened at $93.20 on Friday. The stock has a market cap of $6.49 billion, a PE ratio of 10.89, a PEG ratio of 0.75 and a beta of 0.77. Popular, Inc. has a 12-month low of $80.60 and a 12-month high of $106.81. The business has a 50-day simple moving average of $98.14 and a two-hundred day simple moving average of $96.99.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, equities research analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, March 18th. Popular’s dividend payout ratio (DPR) is currently 32.71%.

Insider Activity

In other news, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now directly owns 32,866 shares in the company, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group initiated coverage on shares of Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target on the stock. Wells Fargo & Company raised their target price on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price target on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays raised their price objective on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada boosted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.00.

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.