Popular, Inc. (NASDAQ:BPOP) Shares Sold by Interval Partners LP

Interval Partners LP lessened its position in Popular, Inc. (NASDAQ:BPOP) by 12.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 77,955 shares of the bank’s stock after selling 10,902 shares during the period. Interval Partners LP owned approximately 0.11% of Popular worth $6,894,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Popular during the 1st quarter worth about $42,000. Mather Group LLC. acquired a new stake in Popular during the 2nd quarter valued at approximately $44,000. Meeder Asset Management Inc. bought a new position in Popular during the 2nd quarter valued at $48,000. GAMMA Investing LLC raised its stake in Popular by 16.8% during the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after buying an additional 181 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new position in Popular in the fourth quarter worth $139,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.09% of the company’s stock.

Popular Stock Performance

Shares of BPOP stock opened at $100.62 on Tuesday. The company has a market capitalization of $7.27 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 0.65 and a beta of 0.78. Popular, Inc. has a 52 week low of $59.27 and a 52 week high of $105.01. The company’s 50 day moving average price is $98.88 and its two-hundred day moving average price is $91.11.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.08 by $0.38. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same quarter in the previous year, the business posted $2.10 EPS. Analysts forecast that Popular, Inc. will post 8.86 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, September 13th. Popular’s dividend payout ratio (DPR) is currently 36.80%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BPOP. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Piper Sandler began coverage on Popular in a research note on Monday, August 26th. They issued an “overweight” rating and a $112.00 price target on the stock. Hovde Group lifted their price target on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays lifted their target price on shares of Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.00.

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.