Janney Montgomery Scott LLC Has $1.67 Million Holdings in Popular, Inc. $BPOP

Janney Montgomery Scott LLC raised its holdings in Popular, Inc. (NASDAQ:BPOP) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,104 shares of the bank’s stock after buying an additional 655 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Popular were worth $1,665,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BPOP. AQR Capital Management LLC lifted its stake in Popular by 52.8% in the first quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank’s stock valued at $129,722,000 after buying an additional 495,325 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Popular during the first quarter worth approximately $10,122,000. Invenomic Capital Management LP raised its position in shares of Popular by 136.1% during the first quarter. Invenomic Capital Management LP now owns 169,183 shares of the bank’s stock worth $15,627,000 after purchasing an additional 97,531 shares during the period. Acadian Asset Management LLC raised its position in shares of Popular by 216.0% during the first quarter. Acadian Asset Management LLC now owns 128,259 shares of the bank’s stock worth $11,846,000 after purchasing an additional 87,669 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Popular during the first quarter worth approximately $7,905,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Popular

In related news, EVP Gilberto Monzon sold 18,001 shares of the 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 sale, the executive vice president owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. This represents a 42.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BPOP. Truist Financial began coverage on Popular in a report on Thursday. They set a “buy” rating and a $153.00 price target for the company. Wells Fargo & Company upped their price target on Popular from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Hovde Group reiterated an “outperform” rating on shares of Popular in a report on Friday, August 29th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Finally, Zacks Research downgraded Popular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.67.

Popular Stock Performance

BPOP stock opened at $117.63 on Friday. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.61 and a beta of 0.68. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $129.32. The stock has a fifty day moving average of $122.95 and a 200-day moving average of $109.37.

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

Popular Dividend Announcement

The business also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.1328 per share. Popular’s dividend payout ratio (DPR) is 29.07%.

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.