Versor Investments LP Sells 2,046 Shares of Popular, Inc. $BPOP

Versor Investments LP trimmed its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,654 shares of the bank’s stock after selling 2,046 shares during the quarter. Versor Investments LP’s holdings in Popular were worth $1,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BPOP. AQR Capital Management LLC raised its stake in shares of Popular by 52.8% during the 1st 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 during the period. Mackenzie Financial Corp bought a new stake in shares of Popular during the 1st quarter valued at $10,122,000. Invenomic Capital Management LP raised its stake in shares of Popular by 136.1% during the 1st quarter. Invenomic Capital Management LP now owns 169,183 shares of the bank’s stock valued at $15,627,000 after purchasing an additional 97,531 shares during the period. Acadian Asset Management LLC raised its stake in shares of Popular by 216.0% during the 1st quarter. Acadian Asset Management LLC now owns 128,259 shares of the bank’s stock valued at $11,846,000 after purchasing an additional 87,669 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Popular during the 1st quarter valued at $7,905,000. 87.27% of the stock is currently owned by institutional investors.

Insider Activity

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

Popular Trading Up 1.0%

BPOP opened at $111.47 on Friday. The stock has a 50-day moving average price of $122.37 and a 200-day moving average price of $112.59. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $129.32. The stock has a market capitalization of $7.53 billion, a P/E ratio of 9.86, a PEG ratio of 0.47 and a beta of 0.68.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.10. Popular had a return on equity of 13.46% and a net margin of 17.63%.The firm had revenue of $817.70 million during the quarter, compared to analysts’ expectations of $803.95 million. During the same period in the prior year, the business earned $2.16 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The company also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.1328 dividend. Popular’s payout ratio is currently 26.55%.

Analyst Ratings Changes

Several equities analysts recently commented on BPOP shares. Truist Financial started coverage on Popular in a research report on Thursday, October 9th. They set a “buy” rating and a $153.00 target price for the company. Wells Fargo & Company reduced their target price on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Barclays restated an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Popular in a research report on Wednesday, October 8th. Finally, Citigroup boosted their target price on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.56.

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.