JCSD Capital LLC Trims Position in Popular, Inc. $BPOP

JCSD Capital LLC decreased its position in Popular, Inc. (NASDAQ:BPOP) by 19.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,100 shares of the bank’s stock after selling 5,500 shares during the period. Popular makes up 2.5% of JCSD Capital LLC’s portfolio, making the stock its 5th largest position. JCSD Capital LLC’s holdings in Popular were worth $2,934,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Popular in the second quarter valued at about $93,578,000. AQR Capital Management LLC lifted its holdings in shares of Popular by 52.8% during the 1st quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank’s stock valued at $129,722,000 after purchasing an additional 495,325 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Popular by 9,769.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 268,448 shares of the bank’s stock valued at $29,586,000 after purchasing an additional 265,728 shares during the period. SG Americas Securities LLC grew its position in shares of Popular by 363.4% in the 2nd quarter. SG Americas Securities LLC now owns 228,028 shares of the bank’s stock valued at $25,131,000 after purchasing an additional 178,820 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Popular by 135.7% during the 2nd quarter. Mackenzie Financial Corp now owns 258,265 shares of the bank’s stock worth $28,463,000 after purchasing an additional 148,682 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Activity

In other news, VP Adorno Denissa Rodriguez sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $114.84, for a total transaction of $114,840.00. Following the completion of the sale, the vice president owned 2,604 shares of the company’s stock, valued at approximately $299,043.36. This represents a 27.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Carrion sold 25,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the sale, the director owned 193,020 shares in the company, valued at $21,907,770. This represents a 11.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.09% of the company’s stock.

Popular Trading Up 0.1%

Shares of BPOP opened at $126.02 on Friday. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $129.32. The firm’s 50 day moving average is $116.74 and its 200-day moving average is $117.54. The stock has a market capitalization of $8.40 billion, a PE ratio of 11.15, a P/E/G ratio of 0.56 and a beta of 0.67.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.10. The business had revenue of $720.83 million during the quarter, compared to analysts’ expectations of $803.95 million. Popular had a return on equity of 13.27% and a net margin of 17.63%.The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. Equities research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be given a $0.75 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.4%. Popular’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

BPOP has been the topic of a number of research reports. Barclays reaffirmed an “overweight” rating on shares of Popular in a research note on Wednesday, October 8th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. UBS Group lowered their target price on Popular from $135.00 to $127.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Weiss Ratings restated a “buy (b)” rating on shares of Popular in a report on Wednesday, October 8th. Finally, Truist Financial began coverage on Popular in a research note on Thursday, October 9th. They issued a “buy” rating and a $153.00 target price on the stock. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.56.

Popular Company Profile

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.