Stieven Capital Advisors L.P. Purchases 21,200 Shares of Popular, Inc. (NASDAQ:BPOP)

Stieven Capital Advisors L.P. lifted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 208,543 shares of the bank’s stock after buying an additional 21,200 shares during the quarter. Popular accounts for approximately 4.0% of Stieven Capital Advisors L.P.’s holdings, making the stock its 6th largest holding. Stieven Capital Advisors L.P. owned about 0.29% of Popular worth $20,911,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its holdings in Popular by 7.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,040 shares of the bank’s stock worth $268,000 after purchasing an additional 208 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Popular in the 1st quarter worth $42,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Popular by 1.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,225 shares of the bank’s stock worth $3,079,000 after buying an additional 475 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Popular in the 1st quarter worth $4,167,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Popular by 8.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 55,367 shares of the bank’s stock worth $4,877,000 after purchasing an additional 4,463 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Popular

In related news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the sale, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. This represents a 16.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,242 shares of company stock worth $1,102,880. 2.09% of the stock is owned by corporate insiders.

Popular Stock Performance

BPOP opened at $96.09 on Friday. The company has a market cap of $6.85 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.75 and a beta of 0.79. The stock has a 50-day moving average of $96.52 and a 200-day moving average of $94.05. Popular, Inc. has a 52-week low of $71.08 and a 52-week high of $105.01.

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

Popular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.58%. Popular’s dividend payout ratio (DPR) is presently 33.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BPOP shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Wells Fargo & Company dropped their price target on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their price target on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada lowered their target price on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Hovde Group boosted their target price on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Popular presently has an average rating of “Moderate Buy” and an average target price of $104.88.

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.