Algert Global LLC Acquires 35,908 Shares of Popular, Inc. $BPOP

Algert Global LLC grew its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 42.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,607 shares of the bank’s stock after acquiring an additional 35,908 shares during the quarter. Algert Global LLC owned about 0.18% of Popular worth $15,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BPOP. Allworth Financial LP raised its stake in Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after purchasing an additional 367 shares in the last quarter. True Wealth Design LLC grew its stake in Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock worth $45,000 after buying an additional 255 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Popular by 84.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 593 shares of the bank’s stock worth $76,000 after buying an additional 271 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of 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 buying an additional 264 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Popular by 63.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,515 shares of the bank’s stock worth $164,000 after buying an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Stock Performance

Shares of Popular stock opened at $130.38 on Friday. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $149.31. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 0.81 and a beta of 0.61. The company has a fifty day moving average of $134.89 and a 200-day moving average of $125.49.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.36. The company had revenue of $806.59 million for the quarter, compared to analysts’ expectations of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.70%. During the same quarter last year, the company earned $2.51 EPS. On average, equities research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders 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 dividend payout ratio (DPR) is 24.35%.

Insider Activity

In other news, Director Alejandro M. Sanchez sold 1,451 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $140.85, for a total value of $204,373.35. Following the completion of the sale, the director owned 3,415 shares of the company’s stock, valued at approximately $481,002.75. The trade was a 29.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alejandro M. Ballester sold 2,360 shares of the stock in a transaction dated Friday, January 30th. The shares were 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 of the company’s stock, valued at $7,611,992.50. This represents a 3.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BPOP. Zacks Research raised shares of Popular from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Piper Sandler began coverage on Popular in a research note on Thursday, January 15th. They issued an “overweight” rating and a $152.00 target price on the stock. UBS Group restated a “neutral” rating and set a $142.00 price target on shares of Popular in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on Popular from $137.00 to $141.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods upped their price objective on Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $156.55.

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.