Popular, Inc. $BPOP Shares Bought by Burney Co.

Burney Co. boosted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 134.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,557 shares of the bank’s stock after purchasing an additional 27,837 shares during the period. Burney Co. owned approximately 0.07% of Popular worth $6,167,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CWM LLC lifted its stake in shares of Popular by 132.5% during the third quarter. CWM LLC now owns 65,032 shares of the bank’s stock worth $8,260,000 after buying an additional 37,060 shares during the period. Farther Finance Advisors LLC raised its stake in Popular by 63.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 682 shares of the bank’s stock worth $87,000 after acquiring an additional 264 shares during the last quarter. Parcion Private Wealth LLC acquired a new stake in Popular during the 3rd quarter worth about $271,000. Brighton Jones LLC lifted its position in Popular by 71.4% during the 3rd quarter. Brighton Jones LLC now owns 11,086 shares of the bank’s stock worth $1,408,000 after acquiring an additional 4,619 shares during the period. Finally, Wedmont Private Capital grew its stake in Popular by 14.3% during the 3rd quarter. Wedmont Private Capital now owns 3,465 shares of the bank’s stock valued at $434,000 after purchasing an additional 434 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Price Performance

BPOP opened at $126.02 on Friday. The firm has a fifty day moving average price of $116.74 and a 200 day moving average price of $117.47. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32. The stock has a market cap of $8.40 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.56 and a beta of 0.67.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.10. The company had revenue of $720.83 million during the quarter, compared to analysts’ expectations of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.27%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 earnings per share. Equities analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, December 5th. Popular’s payout ratio is currently 26.55%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group reduced their price objective on Popular from $135.00 to $127.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Truist Financial started coverage on shares of Popular in a research report on Thursday, October 9th. They set a “buy” rating and a $153.00 price target for the company. Wells Fargo & Company dropped 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. Barclays reiterated an “overweight” rating on shares of Popular in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Transactions at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president directly owned 2,604 shares of the company’s stock, valued at $299,043.36. This represents a 27.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard L. Carrion sold 25,000 shares of Popular stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the completion of the sale, the director directly owned 193,020 shares in the company, valued at $21,907,770. This represents a 11.47% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.09% of the company’s stock.

Popular Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.