Allspring Global Investments Holdings LLC Sells 5,884 Shares of Popular, Inc. (NASDAQ:BPOP)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 27.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,749 shares of the bank's stock after selling 5,884 shares during the period. Allspring Global Investments Holdings LLC's holdings in Popular were worth $1,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares during the period. Janney Montgomery Scott LLC grew its holdings in Popular by 50.0% in the first quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank's stock valued at $1,335,000 after purchasing an additional 4,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Popular by 105.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank's stock valued at $1,132,000 after acquiring an additional 6,281 shares in the last quarter. QRG Capital Management Inc. lifted its position in Popular by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock worth $398,000 after buying an additional 195 shares during the period. Finally, American Century Companies Inc. lifted its position in Popular by 3.0% during the fourth quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after buying an additional 39,999 shares during the period. Institutional investors and hedge funds own 87.27% of the company's stock.

Analyst Ratings Changes

BPOP has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on Popular from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday. Wall Street Zen lowered Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Barclays lifted their target price on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday. Piper Sandler lifted their target price on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods lifted their target price on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.29.

Popular Trading Up 0.6%

NASDAQ BPOP traded up $0.72 during trading hours on Thursday, reaching $114.86. 135,359 shares of the company's stock were exchanged, compared to its average volume of 536,040. The stock has a market cap of $7.87 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 0.69 and a beta of 0.63. Popular, Inc. has a one year low of $78.23 and a one year high of $115.96. The firm has a fifty day moving average of $105.07 and a 200-day moving average of $98.34.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. Popular had a return on equity of 12.22% and a net margin of 15.82%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS. As a group, research analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, May 29th. Popular's payout ratio is presently 28.90%.

Insider Buying and Selling at Popular

In related news, EVP Camille Burckhart sold 7,000 shares of the firm's 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 filing with the SEC, which can be accessed through this link. Also, VP Adorno Denissa Rodriguez sold 500 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the sale, the vice president directly owned 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% decrease in their position. The disclosure for this sale can be found here. 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.