Popular, Inc. (NASDAQ:BPOP) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in Popular, Inc. (NASDAQ:BPOP) by 198.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,697 shares of the bank’s stock after acquiring an additional 9,776 shares during the period. Sequoia Financial Advisors LLC’s holdings in Popular were worth $1,209,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Popular in the 4th quarter valued at about $44,000. Assetmark Inc. boosted its holdings in shares of Popular by 55.4% in the third quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock valued at $89,000 after acquiring an additional 506 shares during the period. Covestor Ltd boosted its holdings in shares of Popular by 68.9% in the first quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock valued at $90,000 after acquiring an additional 447 shares during the period. Lazard Asset Management LLC grew its position in shares of Popular by 51.9% during the first quarter. Lazard Asset Management LLC now owns 1,121 shares of the bank’s stock worth $91,000 after acquiring an additional 383 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Popular by 65.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,021 shares of the bank’s stock valued at $122,000 after acquiring an additional 802 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Price Performance

BPOP opened at $82.75 on Friday. Popular, Inc. has a 12 month low of $52.32 and a 12 month high of $89.70. The stock has a market capitalization of $5.98 billion, a P/E ratio of 10.99 and a beta of 0.82. The business has a 50 day simple moving average of $84.57 and a 200-day simple moving average of $77.52.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.89. The company had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. Popular had a return on equity of 12.63% and a net margin of 13.86%. Research analysts anticipate that Popular, Inc. will post 8.52 EPS for the current year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s dividend payout ratio is currently 32.93%.

Insiders Place Their Bets

In other news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Popular news, EVP Luis E. Cestero sold 599 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BPOP has been the topic of several research reports. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Barclays initiated coverage on Popular in a report on Friday, March 8th. They set an “overweight” rating and a $99.00 price target on the stock. Citigroup upped their price objective on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Piper Sandler lifted their target price on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada upped their price target on Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.63.

Popular Company Profile

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