Popular, Inc. (NASDAQ:BPOP) Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P increased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 72.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,473 shares of the bank’s stock after acquiring an additional 43,863 shares during the period. Martingale Asset Management L P owned approximately 0.14% of Popular worth $10,476,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its holdings in Popular by 3.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank’s stock worth $361,000 after acquiring an additional 118 shares during the period. Assetmark Inc. increased its stake in Popular by 4.0% in the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock worth $376,000 after purchasing an additional 143 shares in the last quarter. Pathstone Holdings LLC increased its stake in Popular by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after purchasing an additional 148 shares in the last quarter. GAMMA Investing LLC increased its stake in Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after purchasing an additional 181 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Popular by 9.5% in the 2nd quarter. Wedmont Private Capital now owns 2,987 shares of the bank’s stock worth $278,000 after purchasing an additional 258 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. This trade represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Popular Stock Performance

Popular stock opened at $99.36 on Friday. The firm has a market cap of $7.09 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.78 and a beta of 0.79. The business’s fifty day moving average is $96.55 and its two-hundred day moving average is $94.66. Popular, Inc. has a 52 week low of $72.80 and a 52 week high of $105.01.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. During the same period last year, the company earned $1.90 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Popular, Inc. will post 8.46 earnings per share for the current year.

Popular Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio is 33.70%.

Analyst Upgrades and Downgrades

BPOP has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their price target on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price target on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler dropped their price target on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $104.88.

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.