Popular, Inc. $BPOP Stake Increased by Boston Partners

Boston Partners lifted its holdings in Popular, Inc. (NASDAQ:BPOP) by 383.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,698 shares of the bank’s stock after buying an additional 26,728 shares during the period. Boston Partners’ holdings in Popular were worth $3,714,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Steph & Co. purchased a new stake in Popular in the 2nd quarter worth about $39,000. Allworth Financial LP increased its holdings in shares of Popular by 2,158.8% in the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after purchasing an additional 367 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Popular by 112.2% in the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after purchasing an additional 221 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Popular during the first quarter worth approximately $47,000. Finally, IFP Advisors Inc boosted its holdings in shares of Popular by 3,925.0% during the second 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. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Popular

In other news, Director Richard L. Carrion sold 25,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the completion of the sale, the director directly owned 193,020 shares of the company’s stock, valued at approximately $21,907,770. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $114.84, for a total transaction of $114,840.00. Following the completion of the sale, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. The trade was a 27.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,001 shares of company stock worth $5,192,924 over the last three months. 2.09% of the stock is currently owned by insiders.

Popular Price Performance

Popular stock opened at $114.76 on Friday. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 0.47 and a beta of 0.72. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $129.32. The firm has a fifty day moving average price of $117.89 and a two-hundred day moving average price of $115.18.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.10. Popular had a return on equity of 13.46% and a net margin of 17.63%.The company had revenue of $720.83 million for the quarter, compared to the consensus estimate of $803.95 million. During the same period last year, the business posted $2.16 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th. Popular’s payout ratio is currently 26.55%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays reiterated an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Weiss Ratings restated a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Hovde Group reaffirmed an “outperform” rating on shares of Popular in a research report on Friday, August 29th. Finally, Zacks Research raised Popular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Popular currently has a consensus rating of “Buy” and an average target price 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.