Headlands Technologies LLC Buys 1,020 Shares of Popular, Inc. (NASDAQ:BPOP)

Headlands Technologies LLC raised its stake in Popular, Inc. (NASDAQ:BPOP) by 216.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,492 shares of the bank’s stock after acquiring an additional 1,020 shares during the quarter. Headlands Technologies LLC’s holdings in Popular were worth $132,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BPOP. Mather Group LLC. bought a new stake in shares of Popular during the second quarter worth $44,000. Principal Securities Inc. bought a new stake in shares of Popular during the fourth quarter worth $83,000. GAMMA Investing LLC grew its holdings in shares of Popular by 16.8% during the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after purchasing an additional 181 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of Popular during the fourth quarter worth $139,000. Finally, CWM LLC grew its holdings in shares of Popular by 164.8% during the first quarter. CWM LLC now owns 1,769 shares of the bank’s stock worth $156,000 after purchasing an additional 1,101 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BPOP has been the topic of several research reports. Hovde Group upped their price target on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler initiated coverage on Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Royal Bank of Canada upped their price target on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Barclays increased their target price on Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Popular Trading Up 1.6 %

NASDAQ:BPOP opened at $97.57 on Friday. The stock has a market cap of $7.05 billion, a P/E ratio of 14.48, a PEG ratio of 0.65 and a beta of 0.78. The stock has a 50 day simple moving average of $97.82 and a 200 day simple moving average of $90.36. Popular, Inc. has a 1-year low of $59.27 and a 1-year high of $105.01.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same period last year, the firm posted $2.10 EPS. As a group, sell-side analysts forecast that Popular, Inc. will post 8.86 EPS for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 2.54%. Popular’s payout ratio is currently 36.80%.

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is currently owned by insiders.

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.