X Square Capital LLC Sells 9,112 Shares of Popular, Inc. $BPOP

X Square Capital LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP) by 61.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,714 shares of the bank’s stock after selling 9,112 shares during the period. X Square Capital LLC’s holdings in Popular were worth $726,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Jupiter Asset Management Ltd. acquired a new position in Popular in the 3rd quarter valued at approximately $10,313,000. GSA Capital Partners LLP bought a new stake in shares of Popular during the third quarter valued at approximately $215,000. Rothschild Investment LLC acquired a new position in shares of Popular in the third quarter valued at $230,000. M&G PLC bought a new position in Popular in the third quarter worth $12,274,000. Finally, Pallas Capital Advisors LLC lifted its position in Popular by 16.8% in the third quarter. Pallas Capital Advisors LLC now owns 6,831 shares of the bank’s stock worth $868,000 after purchasing an additional 983 shares during the period. Institutional investors own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of recent research reports. Royal Bank Of Canada increased their price objective on shares of Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Credit Suisse Group set a $156.00 price target on shares of Popular in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods increased their target price on Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Hovde Group increased their price objective on Popular from $153.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Bank of America raised Popular from a “neutral” rating to a “buy” rating and set a $156.00 target price on the stock in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $155.73.

Insider Buying and Selling

In other Popular news, Director Alejandro M. Ballester sold 2,360 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $132.50, for a total value of $312,700.00. Following the completion of the sale, the director owned 57,449 shares of the company’s stock, valued at $7,611,992.50. The trade was a 3.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.23% of the company’s stock.

Popular Trading Up 2.6%

BPOP stock opened at $147.56 on Monday. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $149.31. The firm has a market cap of $9.84 billion, a PE ratio of 11.98, a P/E/G ratio of 0.91 and a beta of 0.63. The business’s 50-day moving average price is $131.85 and its two-hundred day moving average price is $123.81.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.36. The company had revenue of $815.98 million for the quarter, compared to analyst estimates of $811.55 million. Popular had a return on equity of 13.87% and a net margin of 18.75%.During the same quarter last year, the firm posted $2.51 earnings per share. On average, analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.