Popular, Inc. (NASDAQ:BPOP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 27.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,749 shares of the bank's stock after selling 5,884 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Popular were worth $1,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BPOP. Proficio Capital Partners LLC purchased a new position in shares of Popular in the 4th quarter valued at $27,000. Picton Mahoney Asset Management increased its holdings in shares of Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after acquiring an additional 218 shares during the period. Versant Capital Management Inc increased its holdings in shares of Popular by 589.9% in the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after acquiring an additional 702 shares during the period. Finally, Crestline Management LP purchased a new position in shares of Popular in the 4th quarter valued at $215,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on BPOP shares. Keefe, Bruyette & Woods boosted their target price on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Piper Sandler boosted their target price on Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Hovde Group boosted their target price on Popular from $114.00 to $126.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a research note on Monday, June 30th. 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.com, Popular currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.29.

Popular Price Performance

Popular stock traded up $0.42 during trading hours on Wednesday, hitting $114.86. 7,092 shares of the stock traded hands, compared to its average volume of 535,844. The firm's 50 day moving average price is $104.72 and its 200-day moving average price is $98.23. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.68 and a beta of 0.63. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $115.96.

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

Popular Dividend Announcement

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

Insider Activity

In other news, EVP Camille Burckhart sold 7,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the transaction, the executive vice president owned 27,382 shares of the company's stock, valued at $2,851,561.48. The trade was a 20.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Adorno Denissa Rodriguez sold 500 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the transaction, the vice president directly owned 3,604 shares of the company's stock, valued at approximately $376,365.72. This trade represents a 12.18% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.23% of the company's stock.

About Popular

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.