Massachusetts Financial Services Co. MA Has $225.99 Million Stock Holdings in Popular, Inc. $BPOP

Massachusetts Financial Services Co. MA raised its position in shares of Popular, Inc. (NASDAQ:BPOP) by 18.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,779,309 shares of the bank’s stock after purchasing an additional 283,000 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.63% of Popular worth $225,990,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Popular by 23.1% during the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock worth $8,715,000 after buying an additional 17,729 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Popular in the first quarter valued at $257,000. Goldman Sachs Group Inc. increased its holdings in Popular by 60.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock worth $20,647,000 after purchasing an additional 84,327 shares in the last quarter. Focus Partners Wealth purchased a new stake in Popular in the 1st quarter valued at $207,000. Finally, Sivia Capital Partners LLC purchased a new position in Popular during the second quarter worth about $252,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Stock Down 0.6%

BPOP opened at $128.09 on Tuesday. The business’s fifty day simple moving average is $121.12 and its 200 day simple moving average is $119.82. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $131.10. The stock has a market cap of $8.54 billion, a PE ratio of 11.34, a P/E/G ratio of 0.54 and a beta of 0.63.

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, topping the consensus estimate of $3.04 by $0.10. The firm had revenue of $720.83 million during the quarter, compared to analyst estimates of $803.95 million. Popular had a return on equity of 13.27% and a net margin of 17.63%.The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. As a group, equities analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.3%. Popular’s dividend payout ratio is 26.55%.

Insider Buying and Selling at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,000 shares of Popular stock in a transaction on Friday, November 21st. The shares were sold at an average price of $114.84, for a total value of $114,840.00. Following the transaction, the vice president owned 2,604 shares in the company, valued at $299,043.36. This trade represents a 27.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard L. Carrion sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $113.50, for a total value of $2,837,500.00. Following the transaction, the director directly owned 193,020 shares in the company, valued at $21,907,770. This trade represents a 11.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler began coverage on shares of Popular in a research note on Thursday. They set an “overweight” rating and a $152.00 price target for the company. Citigroup upped their target price on shares of Popular from $142.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. UBS Group restated a “neutral” rating on shares of Popular in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company dropped their price objective on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Popular has an average rating of “Moderate Buy” and an average price target of $137.00.

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.