International Assets Investment Management LLC Acquires New Holdings in Popular, Inc. (NASDAQ:BPOP)

International Assets Investment Management LLC bought a new position in Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 14,639 shares of the bank’s stock, valued at approximately $1,468,000.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Popular in the first quarter worth $42,000. Mather Group LLC. purchased a new stake in shares of Popular in the 2nd quarter valued at about $44,000. Meeder Asset Management Inc. bought a new stake in shares of Popular during the 2nd quarter valued at about $48,000. GAMMA Investing LLC grew its holdings in shares of Popular by 16.8% during the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after purchasing an additional 181 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new position in shares of Popular in the second quarter worth approximately $177,000. 87.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays dropped their target price on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Wells Fargo & Company reduced 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. Piper Sandler dropped their price target on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Hovde Group increased their price objective on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $104.88.

Insider Buying and Selling at Popular

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.09% of the stock is currently owned by corporate insiders.

Popular Trading Up 0.3 %

BPOP opened at $89.48 on Monday. Popular, Inc. has a 12 month low of $66.19 and a 12 month high of $105.01. The business’s 50-day moving average price is $97.51 and its 200-day moving average price is $93.44. The company has a market cap 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.

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

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend 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%.

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.