Los Angeles Capital Management LLC Has $33.30 Million Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Los Angeles Capital Management LLC boosted its position in shares of Popular, Inc. (NASDAQ:BPOP) by 235.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 332,093 shares of the bank’s stock after purchasing an additional 233,119 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Popular were worth $33,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. American Century Companies Inc. lifted its position in Popular by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock valued at $107,781,000 after acquiring an additional 113,838 shares in the last quarter. Principal Financial Group Inc. increased its stake in Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock valued at $105,769,000 after buying an additional 71,782 shares during the last quarter. AQR Capital Management LLC lifted its position in Popular by 23.6% during the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock worth $75,129,000 after buying an additional 164,270 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Popular by 52.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock worth $73,867,000 after buying an additional 286,450 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Popular by 2.1% in the 1st quarter. Earnest Partners LLC now owns 713,923 shares of the bank’s stock valued at $62,889,000 after acquiring an additional 14,810 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Popular Price Performance

Shares of Popular stock opened at $94.33 on Monday. The stock’s 50-day moving average is $96.78 and its 200 day moving average is $93.70. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.78 and a beta of 0.79. Popular, Inc. has a one year low of $66.72 and a one year high of $105.01.

Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a return on equity of 11.65% and a net margin of 12.36%. The business had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. During the same period in the previous year, the firm earned $1.90 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 2.63%. Popular’s dividend payout ratio is currently 33.70%.

Insider Activity

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the transaction, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the sale, the executive vice president now owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,242 shares of company stock worth $1,102,880 over the last ninety days. Company insiders own 2.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Hovde Group boosted their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada cut their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Finally, Barclays decreased their target price on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.88.

Popular Company 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.