19,767 Shares in Popular, Inc. $BPOP Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 19,767 shares of Popular, valued at approximately $3.25 million. Institutional investors collectively own 87.27% of the bank’s outstanding stock.
• Popular reported quarterly EPS of $4.35, exceeding analyst expectations of $3.72, while revenue came in below estimates at $846.92 million. Analysts maintain a consensus “Buy” rating with an average price target of $187.08.
• The company raised its quarterly dividend from $0.75 to $0.90 per share, equivalent to an annualized dividend of $3.60 and a 2.1% yield. Meanwhile, insiders sold 53,561 shares worth approximately $9.39 million over the past 90 days.

Public Employees Retirement System of Ohio purchased a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,767 shares of the bank's stock, valued at approximately $3,245,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BPOP. Acumen Wealth Advisors LLC acquired a new position in shares of Popular in the 4th quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Popular during the fourth quarter valued at $28,000. Parallel Advisors LLC boosted its position in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank's stock valued at $31,000 after purchasing an additional 102 shares during the period. Advisory Services Network LLC purchased a new position in Popular in the 3rd quarter worth about $31,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Popular in the 4th quarter worth about $50,000. Institutional investors and hedge funds own 87.27% of the company's stock.

Insider Buying and Selling at Popular

In related news, EVP Luis Cestero sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $176.36, for a total transaction of $1,499,060.00. Following the completion of the sale, the executive vice president directly owned 16,013 shares in the company, valued at approximately $2,824,052.68. This trade represents a 34.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lidio Soriano sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $174.50, for a total transaction of $523,500.00. Following the transaction, the executive vice president directly owned 107,320 shares in the company, valued at $18,727,340. The trade was a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,561 shares of company stock valued at $9,392,259 in the last 90 days. Corporate insiders own 2.13% of the company's stock.

Popular Trading Down 0.0%

NASDAQ:BPOP opened at $171.32 on Friday. The business's fifty day moving average price is $171.43 and its 200 day moving average price is $154.35. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.66 and a beta of 0.60. Popular, Inc. has a 1-year low of $108.74 and a 1-year high of $179.24.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%.The firm had revenue of $846.92 million during the quarter, compared to analyst estimates of $878.41 million. During the same period last year, the company posted $3.09 EPS. Equities analysts forecast that Popular, Inc. will post 15.72 earnings per share for the current year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Popular's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, September 10th. Popular's payout ratio is currently 20.27%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BPOP shares. Barclays boosted their price objective on Popular from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $190.00 to $207.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Wells Fargo & Company boosted their price target on shares of Popular from $180.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Weiss Ratings restated a "buy (a-)" rating on shares of Popular in a research report on Friday, July 31st. Finally, Royal Bank Of Canada upped their price target on shares of Popular from $163.00 to $181.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $187.08.

About Popular

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.

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