111 Capital Raises Holdings in Popular, Inc. $BPOP

111 Capital raised its position in shares of Popular, Inc. (NASDAQ:BPOP) by 154.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,546 shares of the bank’s stock after buying an additional 7,615 shares during the quarter. 111 Capital’s holdings in Popular were worth $1,383,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Popular by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank’s stock valued at $329,674,000 after buying an additional 34,322 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Popular by 1.7% in the first quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank’s stock valued at $179,243,000 after purchasing an additional 32,078 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Popular by 4.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,485,141 shares of the bank’s stock valued at $137,182,000 after purchasing an additional 66,412 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Popular by 52.8% in the first quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank’s stock valued at $129,722,000 after purchasing an additional 495,325 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in shares of Popular by 3.5% in the 1st quarter. Earnest Partners LLC now owns 725,105 shares of the bank’s stock worth $66,978,000 after buying an additional 24,759 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Popular from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Zacks Research lowered Popular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Citigroup lifted their price target on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Finally, UBS Group reiterated a “neutral” rating on shares of Popular in a report on Wednesday, July 9th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.13.

Popular Price Performance

Shares of NASDAQ:BPOP opened at $125.93 on Friday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32. The business has a 50 day simple moving average of $121.98 and a two-hundred day simple moving average of $108.14. The firm has a market capitalization of $8.51 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.68.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The company had revenue of $800.03 million during the quarter, compared to analysts’ expectations of $777.38 million. During the same quarter in the previous year, the business earned $2.46 EPS. Equities research analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently announced a sep 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.1328 per share. Popular’s dividend payout ratio is currently 29.07%.

Insider Activity

In other news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the completion of the sale, the executive vice president directly owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.09% of the company’s stock.

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.