Allspring Global Investments Holdings LLC Sells 3,917 Shares of Popular, Inc. (NASDAQ:BPOP)

Allspring Global Investments Holdings LLC decreased its position in Popular, Inc. (NASDAQ:BPOPGet Rating) by 24.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,353 shares of the bank’s stock after selling 3,917 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Popular were worth $890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Popular in the second quarter valued at $1,389,000. Commerce Bank raised its stake in Popular by 43.7% in the second quarter. Commerce Bank now owns 9,624 shares of the bank’s stock worth $741,000 after buying an additional 2,929 shares in the last quarter. Private Trust Co. NA bought a new position in Popular in the second quarter worth about $26,000. Atria Investments LLC raised its stake in Popular by 12.5% in the second quarter. Atria Investments LLC now owns 14,828 shares of the bank’s stock worth $1,141,000 after buying an additional 1,643 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in Popular by 98.1% in the second quarter. Trexquant Investment LP now owns 27,531 shares of the bank’s stock worth $2,118,000 after buying an additional 13,633 shares in the last quarter. Institutional investors own 86.01% of the company’s stock.

Popular Stock Up 2.3 %

Shares of BPOP opened at $68.83 on Monday. The company has a market capitalization of $5.00 billion, a P/E ratio of 5.01 and a beta of 0.87. The firm has a 50 day moving average of $67.68 and a 200 day moving average of $72.89. Popular, Inc. has a twelve month low of $62.55 and a twelve month high of $95.28.

Popular (NASDAQ:BPOPGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The bank reported $5.70 earnings per share for the quarter, beating the consensus estimate of $2.53 by $3.17. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $709.10 million. Popular had a net margin of 32.87% and a return on equity of 22.68%. On average, sell-side analysts expect that Popular, Inc. will post 13.91 EPS for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Wednesday, December 7th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Tuesday, December 6th. Popular’s dividend payout ratio (DPR) is currently 16.01%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Popular to $90.00 in a research note on Tuesday, November 1st. UBS Group decreased their price target on shares of Popular to $100.00 in a research note on Wednesday, November 16th. StockNews.com downgraded shares of Popular from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Royal Bank of Canada decreased their target price on shares of Popular from $91.00 to $80.00 in a research note on Thursday, October 27th. Finally, Wells Fargo & Company decreased their target price on shares of Popular from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th.

Popular Company Profile

(Get Rating)

Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico, Popular U.S., and Corporate Group. The Banco Popular de Puerto Rico segment includes commercial banking, consumer and retail banking, and other financial services.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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