Popular, Inc. $BPOP Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC trimmed its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 85.7% in the third quarter, Holdings Channel reports. The fund owned 9,866 shares of the bank’s stock after selling 59,308 shares during the period. Magnetar Financial LLC’s holdings in Popular were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baron Wealth Management LLC raised its position in Popular by 2.5% in the third quarter. Baron Wealth Management LLC now owns 3,597 shares of the bank’s stock worth $457,000 after acquiring an additional 87 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in shares of Popular by 0.6% in the third quarter. KLP Kapitalforvaltning AS now owns 17,000 shares of the bank’s stock valued at $2,171,000 after purchasing an additional 100 shares during the last quarter. Nebula Research & Development LLC grew its holdings in Popular by 1.3% during the 2nd quarter. Nebula Research & Development LLC now owns 9,579 shares of the bank’s stock valued at $1,056,000 after buying an additional 119 shares during the last quarter. Greenwich Wealth Management LLC increased its position in Popular by 0.5% during the 2nd quarter. Greenwich Wealth Management LLC now owns 28,267 shares of the bank’s stock worth $3,115,000 after purchasing an additional 130 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Popular by 6.6% during the third quarter. Quent Capital LLC now owns 2,613 shares of the bank’s stock worth $332,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Trading Up 1.6%

Shares of Popular stock opened at $130.87 on Friday. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $149.31. The stock has a market cap of $8.52 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.80 and a beta of 0.61. The company’s 50-day moving average price is $134.80 and its two-hundred day moving average price is $125.43.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.36. The firm had revenue of $806.59 million during the quarter, compared to analysts’ expectations of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.70%. During the same period last year, the firm posted $2.51 earnings per share. On average, equities analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, March 18th. Popular’s dividend payout ratio (DPR) is 24.35%.

Insider Activity at Popular

In other Popular news, Director Alejandro M. Ballester sold 2,360 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the sale, the director directly owned 57,449 shares of the company’s stock, valued at $7,611,992.50. The trade was a 3.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alejandro M. Sanchez sold 1,451 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $140.85, for a total transaction of $204,373.35. Following the completion of the transaction, the director directly owned 3,415 shares in the company, valued at $481,002.75. This trade represents a 29.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BPOP. Barclays lifted their price target on Popular from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Hovde Group raised their price objective on Popular from $153.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Royal Bank Of Canada lifted their price target on shares of Popular from $137.00 to $141.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Citigroup increased their target price on Popular from $161.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Credit Suisse Group set a $156.00 price target on Popular in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $156.55.

Popular Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.