Creative Planning Reduces Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Creative Planning trimmed its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,053 shares of the bank’s stock after selling 353 shares during the quarter. Creative Planning’s holdings in Popular were worth $707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BPOP. Headlands Technologies LLC purchased a new position in Popular during the 1st quarter worth $42,000. Mather Group LLC. acquired a new stake in Popular during the 2nd quarter worth about $44,000. Meeder Asset Management Inc. acquired a new stake in Popular during the 2nd quarter worth about $48,000. GAMMA Investing LLC lifted its position in Popular by 16.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after acquiring an additional 181 shares during the period. Finally, Perkins Coie Trust Co acquired a new stake in Popular during the 2nd quarter worth about $177,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares of the company’s stock, valued at $2,920,387.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is currently owned by company insiders.

Popular Trading Up 0.3 %

Shares of BPOP stock opened at $89.48 on Monday. The company has a market capitalization of $6.47 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.62 and a beta of 0.79. The business’s 50 day moving average is $97.51 and its two-hundred day moving average is $93.44. Popular, Inc. has a 12-month low of $66.19 and a 12-month high of $105.01.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The business had revenue of $736.56 million for the quarter, compared to analysts’ expectations of $766.62 million. Popular had a return on equity of 11.65% and a net margin of 12.36%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. On average, research analysts predict that Popular, Inc. will post 8.51 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.77%. Popular’s dividend payout ratio is currently 33.70%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Hovde Group lifted their price target on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler lowered their price target on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays lowered their price target on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company lowered their target price on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada lowered their target price on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.88.

Popular 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.