Clark Capital Management Group Inc. Has $2.01 Million Stake in Popular, Inc. (NASDAQ:BPOP)

Clark Capital Management Group Inc. trimmed its stake in Popular, Inc. (NASDAQ:BPOPGet Rating) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,571 shares of the bank’s stock after selling 1,251 shares during the period. Clark Capital Management Group Inc.’s holdings in Popular were worth $2,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BPOP. Vanguard Group Inc. grew its holdings in Popular by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 7,580,955 shares of the bank’s stock worth $619,667,000 after acquiring an additional 35,331 shares during the period. Dimensional Fund Advisors LP lifted its position in Popular by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,086,384 shares of the bank’s stock valued at $334,026,000 after acquiring an additional 42,504 shares in the last quarter. Geode Capital Management LLC lifted its position in Popular by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,185,518 shares of the bank’s stock valued at $97,259,000 after acquiring an additional 3,333 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Popular by 59.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 901,588 shares of the bank’s stock worth $73,696,000 after buying an additional 334,727 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Popular by 56.8% during the 4th quarter. Allianz Asset Management GmbH now owns 756,326 shares of the bank’s stock worth $62,049,000 after buying an additional 273,996 shares in the last quarter. 91.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BPOP. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Piper Sandler lowered their price objective on shares of Popular to $100.00 in a research note on Monday, July 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Popular presently has a consensus rating of “Buy” and an average price target of $109.60.

Insiders Place Their Bets

In other news, VP Jorge J. Garcia sold 1,383 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $80.22, for a total transaction of $110,944.26. Following the sale, the vice president now owns 9,299 shares in the company, valued at $745,965.78. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Eli Sepulveda sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $81.09, for a total transaction of $405,450.00. Following the sale, the executive vice president now owns 39,255 shares in the company, valued at $3,183,187.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jorge J. Garcia sold 1,383 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $80.22, for a total transaction of $110,944.26. Following the sale, the vice president now owns 9,299 shares in the company, valued at approximately $745,965.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,018 shares of company stock worth $1,290,856. 1.88% of the stock is currently owned by company insiders.

Popular Stock Performance

Shares of BPOP opened at $80.08 on Monday. The stock has a market cap of $6.01 billion, a PE ratio of 7.19 and a beta of 0.90. Popular, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $99.49. The firm’s 50-day simple moving average is $78.19 and its two-hundred day simple moving average is $79.97.

Popular (NASDAQ:BPOPGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The bank reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.25. The business had revenue of $681.90 million for the quarter, compared to analysts’ expectations of $656.27 million. Popular had a net margin of 31.09% and a return on equity of 16.82%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.66 earnings per share. Equities research analysts predict that Popular, Inc. will post 10.8 EPS for the current year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, September 7th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, September 6th. Popular’s dividend payout ratio (DPR) is presently 19.77%.

About Popular

(Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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