Northpointe Capital LLC Grows Holdings in Popular Inc (BPOP)

Northpointe Capital LLC raised its holdings in shares of Popular Inc (NASDAQ:BPOP) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,091 shares of the bank’s stock after purchasing an additional 6,419 shares during the quarter. Popular accounts for about 1.5% of Northpointe Capital LLC’s portfolio, making the stock its 21st largest position. Northpointe Capital LLC owned about 0.09% of Popular worth $4,644,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Meeder Asset Management Inc. raised its stake in shares of Popular by 58.0% in the first quarter. Meeder Asset Management Inc. now owns 34,339 shares of the bank’s stock valued at $1,791,000 after acquiring an additional 12,600 shares during the period. KAMES CAPITAL plc raised its stake in shares of Popular by 25.2% in the first quarter. KAMES CAPITAL plc now owns 29,366 shares of the bank’s stock valued at $1,531,000 after acquiring an additional 5,912 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Popular by 41.4% in the first quarter. State of Alaska Department of Revenue now owns 27,879 shares of the bank’s stock valued at $1,452,000 after acquiring an additional 8,160 shares during the period. Copper Rock Capital Partners LLC raised its stake in shares of Popular by 37.8% in the first quarter. Copper Rock Capital Partners LLC now owns 312,452 shares of the bank’s stock valued at $16,216,000 after acquiring an additional 85,700 shares during the period. Finally, First Hawaiian Bank raised its stake in shares of Popular by 85.9% in the first quarter. First Hawaiian Bank now owns 1,915 shares of the bank’s stock valued at $100,000 after acquiring an additional 885 shares during the period. Institutional investors and hedge funds own 90.38% of the company’s stock.

BPOP stock traded down $0.07 during trading on Wednesday, hitting $56.00. The company had a trading volume of 13,401 shares, compared to its average volume of 623,943. The company has a market capitalization of $5.42 billion, a PE ratio of 11.73 and a beta of 1.17. Popular Inc has a 52-week low of $42.78 and a 52-week high of $58.55.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, January 23rd. The bank reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.06). Popular had a return on equity of 9.30% and a net margin of 23.01%. The company had revenue of $629.39 million during the quarter, compared to analysts’ expectations of $602.90 million. During the same period in the prior year, the business earned ($1.01) EPS. As a group, analysts predict that Popular Inc will post 6.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.14%. This is a boost from Popular’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. Popular’s dividend payout ratio is presently 25.16%.

In other Popular news, insider Gilberto Monzon sold 4,000 shares of the stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $54.13, for a total transaction of $216,520.00. Following the transaction, the insider now directly owns 38,588 shares in the company, valued at approximately $2,088,768.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eli Sepulveda sold 5,000 shares of the stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $55.60, for a total transaction of $278,000.00. Following the transaction, the executive vice president now owns 36,008 shares in the company, valued at $2,002,044.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,046 shares of company stock worth $888,326. 1.33% of the stock is owned by company insiders.

Several research firms recently commented on BPOP. BidaskClub downgraded shares of Popular from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Zacks Investment Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Finally, Barclays reaffirmed a “buy” rating and issued a $59.00 price target on shares of Popular in a research note on Friday, January 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $55.63.

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Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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