Popular, Inc. $BPOP Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 112.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,616 shares of the bank’s stock after purchasing an additional 23,584 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Popular worth $5,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in Popular by 56.2% during the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock worth $376,314,000 after purchasing an additional 1,065,452 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Popular by 18.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,779,309 shares of the bank’s stock worth $225,990,000 after purchasing an additional 283,000 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in Popular by 14.0% during the second quarter. Frontier Capital Management Co. LLC now owns 1,082,018 shares of the bank’s stock worth $119,249,000 after buying an additional 132,826 shares during the period. LSV Asset Management grew its stake in Popular by 34.3% during the third quarter. LSV Asset Management now owns 954,968 shares of the bank’s stock worth $121,290,000 after buying an additional 244,108 shares during the period. Finally, Bank of America Corp DE grew its stake in Popular by 13.2% during the third quarter. Bank of America Corp DE now owns 501,673 shares of the bank’s stock worth $63,717,000 after buying an additional 58,485 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insiders Place Their Bets

In other Popular news, Director Alejandro M. Ballester sold 2,360 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the transaction, the director directly owned 57,449 shares in the company, valued at $7,611,992.50. This represents a 3.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alejandro M. Sanchez sold 1,451 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $140.85, for a total transaction of $204,373.35. Following the transaction, the director owned 3,415 shares in the company, valued at $481,002.75. This trade represents a 29.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.09% of the company’s stock.

Popular Trading Up 2.3%

Shares of BPOP stock opened at $139.90 on Tuesday. The company has a market capitalization of $9.09 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. The firm has a fifty day simple moving average of $136.82 and a 200-day simple moving average of $126.38. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $149.31.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.36. The business had revenue of $806.59 million during the quarter, compared to the consensus estimate 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 prior year, the firm earned $2.51 earnings per share. Equities research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th were paid a $0.75 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.1%. Popular’s dividend payout ratio is 24.35%.

Wall Street Analysts Forecast Growth

BPOP has been the subject of several research reports. UBS Group reiterated a “neutral” rating and set a $142.00 price objective on shares of Popular in a research note on Wednesday, February 4th. Bank of America upgraded shares of Popular from a “neutral” rating to a “buy” rating and set a $156.00 price objective for the company in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Popular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Hovde Group boosted their price objective on shares of Popular from $153.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Credit Suisse Group set a $156.00 price objective on shares of Popular in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $159.09.

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.