Algert Global LLC Sells 33,140 Shares of Popular, Inc. $BPOP

Key Points

• Algert Global LLC reduced its stake in Popular, Inc. by 27.7%, selling 33,140 shares, and now owns 86,521 shares valued at approximately $7.99 million.
• Several other institutional investors have increased their holdings in Popular, with Versant Capital Management raising its stake by 589.9% during the first quarter.
• Popular, Inc. reported $3.09 EPS for the last quarter, surpassing analyst estimates of $2.60 and achieving a net revenue of $800.03 million.

Algert Global LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 27.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,521 shares of the bank's stock after selling 33,140 shares during the period. Algert Global LLC owned approximately 0.12% of Popular worth $7,992,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Popular by 5.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after purchasing an additional 201,067 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Popular by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank's stock valued at $329,674,000 after purchasing an additional 34,322 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Popular by 4.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,485,141 shares of the bank's stock valued at $137,182,000 after purchasing an additional 66,412 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Popular by 53.8% in the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock valued at $123,496,000 after purchasing an additional 459,231 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Popular by 2.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 988,777 shares of the bank's stock worth $93,004,000 after buying an additional 23,214 shares during the period. 87.27% of the stock is owned by institutional investors.

Popular Stock Performance

BPOP traded up $2.94 during trading on Friday, hitting $121.94. 792,762 shares of the stock were exchanged, compared to its average volume of 397,277. The firm has a 50 day simple moving average of $113.48 and a 200 day simple moving average of $102.44. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 0.62 and a beta of 0.65. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $123.15.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping the consensus estimate of $2.60 by $0.49. The company had revenue of $800.03 million for 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. As a group, equities analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.5%. This is a boost from Popular's previous quarterly dividend of $0.70. Popular's dividend payout ratio (DPR) is 27.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BPOP. UBS Group reiterated a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price target on Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Piper Sandler increased their price target on Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $128.88.

Insider Transactions at Popular

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction of $728,980.00. Following the sale, the executive vice president owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. This trade represents a 20.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.09% of the company's stock.

Popular Profile

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.