Tidal Investments LLC Buys Shares of 16,303 Popular, Inc. (NASDAQ:BPOP)

Tidal Investments LLC bought a new stake in shares of Popular, Inc. (NASDAQ:BPOP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 16,303 shares of the bank’s stock, valued at approximately $1,635,000.

Other hedge funds have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Popular by 3.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank’s stock worth $361,000 after acquiring an additional 118 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Popular by 4.0% in the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock worth $376,000 after acquiring an additional 143 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Popular by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after acquiring an additional 148 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Popular in the 3rd quarter worth approximately $29,000. Finally, Park Avenue Securities LLC lifted its holdings in shares of Popular by 8.6% in the 3rd quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank’s stock worth $388,000 after acquiring an additional 307 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BPOP. Barclays boosted their price objective on shares of Popular from $104.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada lowered their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, UBS Group assumed coverage on shares of Popular in a report on Tuesday. They set a “neutral” rating and a $104.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.63.

Insider Transactions at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now owns 3,332 shares in the company, valued at $325,569.72. The trade was a 35.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the transaction, the executive vice president now owns 25,115 shares in the company, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Popular Trading Down 1.9 %

Shares of Popular stock opened at $93.88 on Wednesday. The company’s fifty day simple moving average is $96.54 and its two-hundred day simple moving average is $95.36. The company has a market cap of $6.69 billion, a P/E ratio of 12.76, a PEG ratio of 0.76 and a beta of 0.81. Popular, Inc. has a 12-month low of $79.01 and a 12-month high of $105.01.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The company had revenue of $736.56 million for the quarter, compared to analysts’ expectations of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Analysts predict that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.98%. Popular’s dividend payout ratio is currently 38.04%.

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.