Soros Fund Management LLC Invests $9.12 Million in Popular, Inc. (NASDAQ:BPOP)

Soros Fund Management LLC acquired a new stake in Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 90,900 shares of the bank’s stock, valued at approximately $9,115,000. Soros Fund Management LLC owned 0.13% of Popular at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. Financial Management Professionals Inc. bought a new stake in shares of Popular in the 3rd quarter valued at about $29,000. Capital Performance Advisors LLP bought a new stake in Popular in the third quarter valued at approximately $35,000. Mather Group LLC. acquired a new stake in Popular in the second quarter worth $44,000. Brooklyn Investment Group bought a new position in shares of Popular during the third quarter worth $47,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Popular in the 2nd quarter valued at $48,000. 87.27% of the stock is owned by institutional investors.

Popular Stock Up 0.0 %

Shares of Popular stock opened at $99.86 on Friday. Popular, Inc. has a 12-month low of $74.97 and a 12-month high of $105.01. The business’s 50 day moving average is $96.51 and its 200-day moving average is $94.85. The stock has a market cap of $7.12 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.77 and a beta of 0.81.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The firm had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.35%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. On average, sell-side analysts expect that Popular, Inc. will post 8.46 EPS for the current year.

Popular Increases Dividend

The firm also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.80%. This is a boost from Popular’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. Popular’s dividend payout ratio (DPR) is presently 33.70%.

Insider Transactions at Popular

In related news, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares in the company, valued at $2,490,403.40. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BPOP shares. Keefe, Bruyette & Woods boosted their target price on Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler dropped their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. 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. Barclays boosted their price objective on shares of Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada dropped their price target on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Popular Company 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.