Inspire Investing LLC bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,214 shares of the bank's stock, valued at approximately $905,000.
Several other large investors have also bought and sold shares of BPOP. Assenagon Asset Management S.A. bought a new position in Popular during the 1st quarter worth $5,119,000. Wealth Enhancement Advisory Services LLC raised its position in Popular by 105.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank's stock worth $1,132,000 after purchasing an additional 6,281 shares during the last quarter. Ritholtz Wealth Management raised its position in Popular by 7.5% during the 1st quarter. Ritholtz Wealth Management now owns 20,725 shares of the bank's stock worth $1,914,000 after purchasing an additional 1,439 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Popular by 50.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank's stock worth $1,335,000 after purchasing an additional 4,818 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Popular by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock worth $398,000 after purchasing an additional 195 shares during the last quarter. 87.27% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on BPOP shares. Barclays reaffirmed an "overweight" rating on shares of Popular in a research report on Wednesday. Truist Financial started coverage on Popular in a research report on Thursday. They issued a "buy" rating and a $153.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. UBS Group reissued a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Popular in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Popular presently has an average rating of "Moderate Buy" and a consensus target price of $132.67.
Read Our Latest Analysis on BPOP
Popular Price Performance
Shares of BPOP opened at $117.63 on Friday. The stock has a 50-day moving average of $122.95 and a 200-day moving average of $109.37. The company has a market cap of $7.95 billion, a PE ratio of 11.40, a P/E/G ratio of 0.61 and a beta of 0.68. Popular, Inc. has a one year low of $78.23 and a one year high of $129.32.
Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating the consensus estimate of $2.60 by $0.49. The company had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same period last year, the business posted $2.46 EPS. Analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Dividend Announcement
The company also recently announced a sep 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.1328 dividend. Popular's dividend payout ratio is presently 29.07%.
Insider Activity at Popular
In other news, EVP Gilberto Monzon sold 18,001 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president directly owned 24,773 shares in the company, valued at $3,083,495.31. This trade represents a 42.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.09% of the stock is currently owned by corporate insiders.
About Popular
(
Free Report)
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.
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