Voleon Capital Management LP Makes New Investment in Popular, Inc. (NASDAQ:BPOP)
Voleon Capital Management LP has acquired a new stake in Popular, Inc. (NASDAQ:BPOP), purchasing 10,386 shares valued at approximately $977,000 during the fourth quarter. Other institutional investors have also increased their holdings in Popular. Analysts have set new price targets, with Barclays and Keefe, Bruyette & Woods issuing target prices of $125.00. Popular reported earnings of $2.56 per share, exceeding estimates, and declared a quarterly dividend of $0.70 per share. The stock has a market cap of $6.62 billion and a current price of $95.42.
Voleon Capital Management LP acquired a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,386 shares of the bank's stock, valued at approximately $977,000.
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Other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management lifted its holdings in Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after buying an additional 118 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Popular during the third quarter worth approximately $81,000. R Squared Ltd acquired a new position in Popular in the fourth quarter valued at approximately $166,000. Finally, Yousif Capital Management LLC purchased a new position in Popular in the fourth quarter valued at approximately $202,000. 87.27% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Barclays reaffirmed an "overweight" rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. StockNews.com downgraded Popular from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Finally, Hovde Group reduced their price objective on Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $111.14.
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View Our Latest Stock Analysis on BPOP
Popular Price Performance
Shares of NASDAQ BPOP opened at $95.42 on Thursday. The company has a market cap of $6.62 billion, a PE ratio of 11.15, a P/E/G ratio of 0.75 and a beta of 0.62. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $106.81. The stock has a fifty day moving average price of $90.68 and a 200 day moving average price of $95.22.
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Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. The business had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The business's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. Analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.93%. Popular's dividend payout ratio (DPR) is presently 28.90%.
Insider Activity
In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.09% of the company's stock.
About Popular
(Free Report)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.
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