Popular, Inc. (NASDAQ:BPOP) Position Increased by Cerity Partners LLC

Cerity Partners LLC raised its position in shares of Popular, Inc. (NASDAQ:BPOP) by 164.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,731 shares of the bank’s stock after buying an additional 9,788 shares during the quarter. Cerity Partners LLC’s holdings in Popular were worth $1,453,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Popular in the fourth quarter worth approximately $79,842,000. Massachusetts Financial Services Co. MA increased its holdings in Popular by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank’s stock worth $133,446,000 after buying an additional 515,798 shares during the last quarter. First Trust Advisors LP increased its holdings in Popular by 53.8% in the fourth quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank’s stock worth $123,496,000 after buying an additional 459,231 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Popular by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank’s stock worth $394,373,000 after buying an additional 201,067 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Popular by 32.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank’s stock valued at $68,041,000 after purchasing an additional 175,327 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the transaction, the executive vice president directly owned 27,382 shares in the company, valued at $2,851,561.48. The trade was a 20.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 500 shares of the business’s stock in a transaction dated 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 transaction, the vice president owned 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.23% of the stock is currently owned by insiders.

Popular Trading Down 0.5%

BPOP opened at $114.99 on Tuesday. The stock has a 50-day moving average price of $107.71 and a 200-day moving average price of $99.60. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $116.80. The stock has a market capitalization of $7.88 billion, a P/E ratio of 11.87, a PEG ratio of 0.63 and a beta of 0.63.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.30. Popular had a return on equity of 12.22% and a net margin of 15.82%. The business had revenue of $755.46 million during the quarter, compared to analysts’ expectations of $760.45 million. During the same quarter last year, the business posted $1.43 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.43%. Popular’s dividend payout ratio (DPR) is presently 28.90%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BPOP. Wells Fargo & Company upped their price target on shares of Popular from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Wall Street Zen cut Popular from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. UBS Group reiterated a “neutral” rating on shares of Popular in a research report on Wednesday, July 9th. Barclays boosted their price objective on Popular from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Finally, Piper Sandler upped their price target on Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Popular presently has an average rating of “Moderate Buy” and a consensus price target of $123.29.

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.