Quantinno Capital Management LP Has $36.60 Million Position in Popular, Inc. $BPOP

Quantinno Capital Management LP grew its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 100.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,800 shares of the bank’s stock after acquiring an additional 136,984 shares during the period. Quantinno Capital Management LP owned 0.42% of Popular worth $36,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Popular by 112.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,616 shares of the bank’s stock worth $5,620,000 after acquiring an additional 23,584 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Popular by 10.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 187,671 shares of the bank’s stock valued at $23,369,000 after purchasing an additional 17,148 shares during the last quarter. UBS Group AG raised its holdings in shares of Popular by 28.1% in the fourth quarter. UBS Group AG now owns 540,646 shares of the bank’s stock valued at $67,321,000 after purchasing an additional 118,496 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Popular during the fourth quarter valued at about $2,038,000. Finally, Geode Capital Management LLC boosted its holdings in Popular by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock worth $175,057,000 after purchasing an additional 64,778 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Trading Up 1.7%

Shares of NASDAQ BPOP opened at $175.13 on Friday. The stock has a fifty day simple moving average of $162.93 and a two-hundred day simple moving average of $147.42. Popular, Inc. has a 1-year low of $108.74 and a 1-year high of $176.51. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 0.66 and a beta of 0.61.

Popular (NASDAQ:BPOP) last issued its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.63. The firm had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. Popular had a return on equity of 15.47% and a net margin of 21.37%.During the same period in the previous year, the company posted $3.09 earnings per share. Analysts forecast that Popular, Inc. will post 15.72 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio (DPR) is currently 20.27%.

Insider Buying and Selling at Popular

In other news, Director Alejandro M. Sanchez sold 300 shares of Popular stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the transaction, the director owned 3,960 shares in the company, valued at $595,425.60. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is owned by insiders.

Analyst Ratings Changes

BPOP has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Popular from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Truist Financial boosted their target price on Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. UBS Group upped their target price on Popular from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods increased their price target on Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price target on Popular from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $184.42.

Key Stories Impacting Popular

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Favorable momentum profile: Zacks identifies BPOP as a top-ranked momentum stock, highlighting its recent price strength and potential for continued market outperformance. Popular BPOP is a Top-Ranked Momentum Stock: Should You Buy?
• Positive Sentiment: Value appeal: A separate Zacks analysis classifies Popular as a strong value stock, which may attract investors given its relatively low valuation, including a price-to-earnings ratio of approximately 11.8 and a PEG ratio below 1. Here’s Why Popular BPOP is a Strong Value Stock
• Positive Sentiment: Recent earnings beat: Popular reported quarterly earnings of $4.35 per share, well above the $3.72 analyst consensus and up from $3.09 a year earlier. Its 15.47% return on equity and 21.37% net margin also indicate solid profitability.
• Neutral Sentiment: Mixed quarterly revenue: Revenue of $846.9 million fell short of the $878.4 million consensus estimate, limiting the strength of the earnings-related catalyst. Analysts nevertheless expect approximately $15.72 in full-year earnings per share.
• Neutral Sentiment: Limited company-specific news: The other articles in the supplied news flow concern unrelated companies, cryptocurrencies, ETFs, or general-interest topics and do not appear to affect BPOP directly.

About Popular

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.