Nuveen Asset Management LLC Boosts Position in Popular, Inc. (NASDAQ:BPOP)

Nuveen Asset Management LLC grew its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,612 shares of the bank’s stock after buying an additional 5,404 shares during the period. Nuveen Asset Management LLC owned 0.23% of Popular worth $15,201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new position in Popular during the fourth quarter valued at approximately $27,000. Picton Mahoney Asset Management boosted its holdings in Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 118 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after purchasing an additional 218 shares in the last quarter. R Squared Ltd bought a new position in shares of Popular in the fourth quarter worth $166,000. Finally, Yousif Capital Management LLC bought a new position in shares of Popular in the fourth quarter worth $202,000. 87.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Adorno Denissa Rodriguez sold 500 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president now owns 3,604 shares of the company’s stock, valued at approximately $376,365.72. This represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.09% of the stock is owned by corporate insiders.

Popular Price Performance

Shares of Popular stock opened at $102.50 on Monday. The firm has a market cap of $7.02 billion, a PE ratio of 11.97, a PEG ratio of 0.75 and a beta of 0.60. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $106.81. The company has a 50 day simple moving average of $93.42 and a two-hundred day simple moving average of $96.12.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.30. Popular had a net margin of 14.15% and a return on equity of 11.89%. The company had revenue of $755.46 million during the quarter, compared to analysts’ expectations of $760.45 million. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.73%. Popular’s dividend payout ratio (DPR) is 28.90%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BPOP shares. Piper Sandler boosted their target price on Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Barclays reissued an “overweight” rating and set a $125.00 price objective (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on shares of Popular from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wells Fargo & Company upgraded shares of Popular from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $110.00 to $100.00 in a research report on Wednesday, April 9th. Finally, Wall Street Zen lowered shares of Popular from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular has an average rating of “Moderate Buy” and a consensus target price of $114.43.

About Popular

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.