Yousif Capital Management LLC Invests $202,000 in Popular, Inc. (NASDAQ:BPOP)

Yousif Capital Management LLC purchased a new position in Popular, Inc. (NASDAQ:BPOP) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,143 shares of the bank’s stock, valued at approximately $202,000.

Several other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Popular during the fourth quarter valued at approximately $166,000. KBC Group NV grew its stake in shares of Popular by 1,719.6% in the fourth quarter. KBC Group NV now owns 37,775 shares of the bank’s stock worth $3,553,000 after acquiring an additional 35,699 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Popular by 3.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,631 shares of the bank’s stock valued at $906,000 after buying an additional 349 shares during the period. SG Americas Securities LLC grew its stake in shares of Popular by 20.6% during the 4th quarter. SG Americas Securities LLC now owns 23,674 shares of the bank’s stock valued at $2,227,000 after purchasing an additional 4,044 shares during the period. Finally, Perpetual Ltd grew its position in Popular by 5.3% during the fourth quarter. Perpetual Ltd now owns 104,087 shares of the bank’s stock valued at $9,790,000 after buying an additional 5,200 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Piper Sandler cut their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company raised their price objective on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Barclays raised their price target on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.25.

Insider Buying and Selling at Popular

In related news, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Popular Stock Performance

Shares of Popular stock opened at $104.41 on Tuesday. Popular, Inc. has a one year low of $80.60 and a one year high of $106.46. The company has a 50-day simple moving average of $98.03 and a two-hundred day simple moving average of $97.55. The company has a market capitalization of $7.45 billion, a PE ratio of 12.20, a P/E/G ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

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.