Quantinno Capital Management LP Purchases 136,984 Shares of Popular, Inc. $BPOP

Quantinno Capital Management LP grew its position in shares of Popular, Inc. (NASDAQ:BPOP) by 100.9% in the first quarter, Holdings Channel reports. The firm owned 272,800 shares of the bank’s stock after purchasing an additional 136,984 shares during the period. Quantinno Capital Management LP’s holdings in Popular were worth $36,602,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Popular by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank’s stock valued at $1,057,167,000 after buying an additional 37,424 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Popular by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,361,681 shares of the bank’s stock worth $543,117,000 after acquiring an additional 58,452 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Popular by 56.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after acquiring an additional 1,065,452 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Popular by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock valued at $175,057,000 after acquiring an additional 64,778 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Popular by 9.3% during the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank’s stock valued at $129,966,000 after acquiring an additional 88,765 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BPOP shares. Royal Bank Of Canada boosted their price objective on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. UBS Group raised their target price on shares of Popular from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 4th. Citigroup boosted their price target on shares of Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $184.42.

Insider Transactions at Popular

In other news, Director Alejandro M. Sanchez sold 300 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the transaction, the director directly owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.13% of the stock is currently owned by insiders.

Key Headlines Impacting Popular

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Favorable momentum profile: Zacks identifies BPOP as a top-ranked momentum stock, highlighting its recent price strength and potential for continued market outperformance. Popular BPOP is a Top-Ranked Momentum Stock: Should You Buy?
• Positive Sentiment: Value appeal: A separate Zacks analysis classifies Popular as a strong value stock, which may attract investors given its relatively low valuation, including a price-to-earnings ratio of approximately 11.8 and a PEG ratio below 1. Here’s Why Popular BPOP is a Strong Value Stock
• Positive Sentiment: Recent earnings beat: Popular reported quarterly earnings of $4.35 per share, well above the $3.72 analyst consensus and up from $3.09 a year earlier. Its 15.47% return on equity and 21.37% net margin also indicate solid profitability.
• Neutral Sentiment: Mixed quarterly revenue: Revenue of $846.9 million fell short of the $878.4 million consensus estimate, limiting the strength of the earnings-related catalyst. Analysts nevertheless expect approximately $15.72 in full-year earnings per share.
• Neutral Sentiment: Limited company-specific news: The other articles in the supplied news flow concern unrelated companies, cryptocurrencies, ETFs, or general-interest topics and do not appear to affect BPOP directly.

Popular Stock Performance

Shares of BPOP opened at $175.13 on Friday. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.66 and a beta of 0.61. Popular, Inc. has a fifty-two week low of $108.74 and a fifty-two week high of $176.51. The firm has a 50 day moving average price of $162.93 and a 200-day moving average price of $147.42.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.47%. The company had revenue of $846.92 million during the quarter, compared to analysts’ expectations of $878.41 million. During the same quarter in the prior year, the company earned $3.09 EPS. As a group, equities research analysts predict that Popular, Inc. will post 15.72 earnings per share for the current year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio is presently 20.27%.

About Popular

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.