Interval Partners LP Has $7.83 Million Position in Popular, Inc. (NASDAQ:BPOP)

Interval Partners LP increased its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 191.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,857 shares of the bank’s stock after purchasing an additional 58,397 shares during the quarter. Interval Partners LP owned approximately 0.12% of Popular worth $7,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Popular during the first quarter worth $42,000. Principal Securities Inc. acquired a new position in Popular in the 4th quarter worth about $83,000. GAMMA Investing LLC bought a new position in Popular in the fourth quarter valued at about $90,000. Clear Street Markets LLC acquired a new stake in shares of Popular during the fourth quarter valued at about $139,000. Finally, CWM LLC boosted its stake in shares of Popular by 164.8% during the first quarter. CWM LLC now owns 1,769 shares of the bank’s stock valued at $156,000 after purchasing an additional 1,101 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Analysts Set New Price Targets

BPOP has been the subject of several recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Wells Fargo & Company raised their price target on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. StockNews.com upgraded shares of Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Piper Sandler increased their price objective on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Hovde Group lifted their target price on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three equities research 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 an average rating of “Moderate Buy” and an average price target of $105.22.

Popular Stock Up 2.1 %

BPOP traded up $2.13 during trading on Tuesday, reaching $104.28. 380,138 shares of the stock traded hands, compared to its average volume of 394,994. The stock’s 50-day moving average is $90.20 and its 200 day moving average is $87.04. Popular, Inc. has a 12 month low of $59.27 and a 12 month high of $105.01. The stock has a market capitalization of $7.54 billion, a PE ratio of 15.47, a P/E/G ratio of 0.85 and a beta of 0.80.

Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.08 by $0.38. Popular had a return on equity of 12.00% and a net margin of 12.20%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. During the same quarter in the prior year, the company earned $2.10 EPS. As a group, equities research analysts anticipate that Popular, Inc. will post 8.41 EPS for the current year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Thursday, May 30th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, May 30th. Popular’s dividend payout ratio (DPR) is 36.80%.

Insider Activity

In related news, EVP Manuel Chinea sold 12,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $90.70, for a total transaction of $1,088,400.00. Following the transaction, the executive vice president now directly owns 27,086 shares of the company’s stock, valued at $2,456,700.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Manuel Chinea sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total transaction of $1,088,400.00. Following the transaction, the executive vice president now directly owns 27,086 shares of the company’s stock, valued at approximately $2,456,700.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gilberto Monzon sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the completion of the transaction, the executive vice president now owns 48,320 shares in the company, valued at approximately $4,145,856. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Popular 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.