Element Capital Management LLC Takes $390,000 Position in Popular Inc (BPOP)

Element Capital Management LLC acquired a new position in shares of Popular Inc (NASDAQ:BPOP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,371 shares of the bank’s stock, valued at approximately $390,000.

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Popular by 49.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,797 shares of the bank’s stock worth $206,000 after purchasing an additional 1,910 shares in the last quarter. Timber Hill LLC bought a new stake in Popular during the 1st quarter worth approximately $223,000. Invictus RG bought a new stake in Popular during the 4th quarter worth approximately $228,000. First Republic Investment Management Inc. bought a new stake in Popular during the 1st quarter worth approximately $229,000. Finally, Allianz Asset Management GmbH bought a new stake in Popular during the 1st quarter worth approximately $240,000. Institutional investors and hedge funds own 89.84% of the company’s stock.

NASDAQ:BPOP opened at $46.64 on Wednesday. Popular Inc has a 52 week low of $32.04 and a 52 week high of $48.17. The firm has a market capitalization of $4.75 billion, a PE ratio of 17.39 and a beta of 1.07.



Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, April 24th. The bank reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.13. Popular had a net margin of 4.74% and a return on equity of 5.29%. The company had revenue of $506.54 million for the quarter, compared to analyst estimates of $497.70 million. During the same period in the prior year, the firm posted $0.89 EPS. sell-side analysts anticipate that Popular Inc will post 4.3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Tuesday, May 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, May 25th. Popular’s dividend payout ratio is currently 37.31%.

BPOP has been the topic of a number of research reports. BidaskClub raised shares of Popular from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, February 21st. BTIG Research reissued a “buy” rating and set a $46.00 target price on shares of Popular in a report on Wednesday, April 18th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $51.00 target price on shares of Popular in a report on Wednesday, April 25th. Finally, Morgan Stanley boosted their target price on shares of Popular from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, April 30th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Popular has an average rating of “Buy” and a consensus target price of $50.06.

Popular Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. 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, 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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