Choreo LLC Has $206,000 Stock Position in Popular, Inc. $BPOP

Choreo LLC cut its holdings in Popular, Inc. (NASDAQ:BPOP) by 78.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,611 shares of the bank’s stock after selling 5,770 shares during the period. Choreo LLC’s holdings in Popular were worth $206,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Allworth Financial LP grew its position in Popular by 2,158.8% during the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after buying an additional 367 shares in the last quarter. True Wealth Design LLC raised its holdings in Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after acquiring an additional 255 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Popular by 84.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 593 shares of the bank’s stock valued at $76,000 after acquiring an additional 271 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Popular by 63.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 682 shares of the bank’s stock valued at $87,000 after acquiring an additional 264 shares during the period. Finally, Osaic Holdings Inc. grew its holdings in shares of Popular by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,515 shares of the bank’s stock worth $164,000 after purchasing an additional 589 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Popular Trading Down 2.5%

BPOP stock opened at $130.78 on Monday. The firm has a 50-day moving average price of $134.43 and a 200-day moving average price of $125.23. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $149.31. The stock has a market capitalization of $8.51 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 0.81 and a beta of 0.61.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.36. The company had revenue of $806.59 million for the quarter, compared to analyst estimates of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.70%. During the same period in the previous year, the firm posted $2.51 EPS. As a group, equities analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, March 18th. Popular’s payout ratio is presently 24.35%.

Insiders Place Their Bets

In other news, Director Alejandro M. Sanchez sold 1,451 shares of Popular stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $140.85, for a total transaction of $204,373.35. Following the sale, the director directly owned 3,415 shares of the company’s stock, valued at approximately $481,002.75. This trade represents a 29.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alejandro M. Ballester sold 2,360 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $132.50, for a total value of $312,700.00. Following the sale, the director owned 57,449 shares in the company, valued at approximately $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BPOP has been the topic of a number of recent analyst reports. Barclays raised their price target on Popular from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Credit Suisse Group set a $156.00 price objective on shares of Popular in a research note on Tuesday, February 3rd. Royal Bank Of Canada raised their target price on shares of Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. UBS Group restated a “neutral” rating and issued a $142.00 target price on shares of Popular in a research report on Wednesday, February 4th. Finally, Citigroup upped their price target on shares of Popular from $161.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Popular has an average rating of “Buy” and an average target price of $156.55.

Popular Company 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.