Farther Finance Advisors LLC Raises Stock Holdings in Popular, Inc. $BPOP

Farther Finance Advisors LLC lifted its stake in Popular, Inc. (NASDAQ:BPOP) by 112.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 418 shares of the bank’s stock after acquiring an additional 221 shares during the quarter. Farther Finance Advisors LLC’s holdings in Popular were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Popular by 21.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,975 shares of the bank’s stock worth $562,000 after buying an additional 1,057 shares during the last quarter. Merit Financial Group LLC bought a new position in Popular in the first quarter valued at about $710,000. Wedge Capital Management L L P NC lifted its holdings in Popular by 10.3% in the first quarter. Wedge Capital Management L L P NC now owns 23,117 shares of the bank’s stock valued at $2,135,000 after acquiring an additional 2,151 shares during the period. Pallas Capital Advisors LLC purchased a new position in Popular in the first quarter worth about $496,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Popular by 26.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 94,599 shares of the bank’s stock valued at $8,738,000 after purchasing an additional 19,876 shares during the period. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BPOP shares. Citigroup increased their price objective on shares of Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a research report on Saturday, September 27th. Royal Bank Of Canada reissued an “outperform” rating on shares of Popular in a research report on Thursday, July 24th. Finally, UBS Group restated a “neutral” rating on shares of Popular in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Popular presently has an average rating of “Moderate Buy” and a consensus target price of $130.13.

Popular Price Performance

BPOP stock opened at $127.05 on Tuesday. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $129.32. The business has a 50 day simple moving average of $122.22 and a two-hundred day simple moving average of $108.64. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.65 and a beta of 0.68.

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

Popular Dividend Announcement

The business also recently declared a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.1328 dividend. Popular’s payout ratio is currently 29.07%.

Insider Activity at Popular

In other news, EVP Gilberto Monzon sold 18,001 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the completion of the transaction, the executive vice president owned 24,773 shares in the company, valued at $3,083,495.31. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.23% of the stock is owned by company insiders.

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.