Popular, Inc. $BPOP Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its holdings in Popular, Inc. (NASDAQ:BPOP) by 69.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,893 shares of the bank’s stock after selling 6,700 shares during the period. Bessemer Group Inc.’s holdings in Popular were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BPOP. Steph & Co. purchased a new stake in Popular during the 2nd quarter worth $39,000. Farther Finance Advisors LLC boosted its position in Popular by 112.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after purchasing an additional 221 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Popular during the 1st quarter worth $47,000. IFP Advisors Inc boosted its position in Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock worth $53,000 after purchasing an additional 471 shares during the period. Finally, Quarry LP purchased a new position in shares of Popular in the first quarter valued at $84,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Gilberto Monzon sold 18,001 shares of Popular stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total value of $2,240,584.47. Following the transaction, the executive vice president owned 24,773 shares of the company’s stock, valued at $3,083,495.31. The trade was a 42.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.09% of the stock is owned by corporate insiders.

Popular Stock Up 0.7%

Shares of NASDAQ:BPOP opened at $112.30 on Tuesday. The company has a market cap of $7.59 billion, a PE ratio of 9.94, a P/E/G ratio of 0.47 and a beta of 0.68. The company’s 50-day moving average price is $122.16 and its 200 day moving average price is $112.98. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $129.32.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.10. The firm had revenue of $817.70 million for the quarter, compared to the consensus estimate of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.46%. Popular’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.16 EPS. As a group, equities analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.1328 dividend. Popular’s dividend payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BPOP shares. Truist Financial started coverage on shares of Popular in a report on Thursday, October 9th. They issued a “buy” rating and a $153.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Finally, Zacks Research downgraded shares of 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.56.

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.