US Bancorp DE Sells 169 Shares of Popular, Inc. (NASDAQ:BPOP)

US Bancorp DE reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 6.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,653 shares of the bank’s stock after selling 169 shares during the period. US Bancorp DE’s holdings in Popular were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arkadios Wealth Advisors increased its holdings in Popular by 25.4% during the 1st quarter. Arkadios Wealth Advisors now owns 2,783 shares of the bank’s stock worth $257,000 after purchasing an additional 564 shares during the period. XTX Topco Ltd increased its holdings in Popular by 312.4% during the 1st quarter. XTX Topco Ltd now owns 25,043 shares of the bank’s stock worth $2,313,000 after purchasing an additional 18,970 shares during the period. GSA Capital Partners LLP increased its holdings in Popular by 3.4% during the 1st quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank’s stock worth $543,000 after purchasing an additional 191 shares during the period. Federated Hermes Inc. increased its holdings in Popular by 3.3% during the 1st quarter. Federated Hermes Inc. now owns 240,071 shares of the bank’s stock worth $22,175,000 after purchasing an additional 7,645 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Popular by 64.4% during the 1st quarter. Meeder Asset Management Inc. now owns 48,114 shares of the bank’s stock worth $4,444,000 after purchasing an additional 18,842 shares during the period. 87.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Camille Burckhart sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is currently owned by company insiders.

Popular Trading Up 0.3%

Shares of NASDAQ:BPOP opened at $119.28 on Friday. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $119.31. The business’s fifty day simple moving average is $111.82 and its 200-day simple moving average is $101.74. The company has a market capitalization of $8.06 billion, a PE ratio of 11.56, a P/E/G ratio of 0.62 and a beta of 0.65.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%. The business had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. During the same period last year, the business posted $2.46 EPS. Research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup raised their price objective on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Royal Bank Of Canada restated an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Hovde Group raised their price objective on Popular from $126.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Piper Sandler raised their price objective on Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, Barclays raised their price objective on Popular from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.88.

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.