Squarepoint Ops LLC Sells 11,641 Shares of Popular, Inc. (NASDAQ:BPOP)

Squarepoint Ops LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP) by 61.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,248 shares of the bank’s stock after selling 11,641 shares during the quarter. Squarepoint Ops LLC’s holdings in Popular were worth $641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. Xponance Inc. increased its holdings in shares of Popular by 22.6% during the second quarter. Xponance Inc. now owns 3,130 shares of the bank’s stock valued at $277,000 after acquiring an additional 576 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Popular in the 2nd quarter valued at $309,000. Ensign Peak Advisors Inc increased its stake in Popular by 7.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 35,606 shares of the bank’s stock valued at $3,149,000 after purchasing an additional 2,355 shares in the last quarter. Sei Investments Co. raised its holdings in Popular by 7.7% during the second quarter. Sei Investments Co. now owns 304,483 shares of the bank’s stock worth $26,925,000 after buying an additional 21,844 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Popular by 172.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,319 shares of the bank’s stock valued at $293,000 after buying an additional 2,102 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares in the company, valued at $2,920,387.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.09% of the company’s stock.

Popular Price Performance

Shares of Popular stock opened at $96.02 on Wednesday. The stock has a fifty day moving average price of $98.04 and a 200-day moving average price of $92.15. The firm has a market cap of $6.94 billion, a PE ratio of 14.25, a P/E/G ratio of 0.68 and a beta of 0.78. Popular, Inc. has a 1 year low of $59.27 and a 1 year high of $105.01.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same period in the prior year, the company earned $2.10 earnings per share. As a group, equities analysts anticipate that Popular, Inc. will post 8.86 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.62 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.58%. Popular’s payout ratio is 36.80%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BPOP shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 target price (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Piper Sandler started coverage on Popular in a research note on Monday, August 26th. They issued an “overweight” rating and a $112.00 price objective for the company. Hovde Group raised their target price 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 upped their price target on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company cut Popular from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $115.00 to $105.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

About Popular

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.