Amundi lifted its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 615.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,031 shares of the bank's stock after acquiring an additional 32,719 shares during the period. Amundi owned approximately 0.06% of Popular worth $5,103,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BPOP. Acumen Wealth Advisors LLC bought a new position in shares of Popular during the 4th quarter worth approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Popular in the 4th quarter valued at $28,000. Parallel Advisors LLC lifted its position in shares of Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank's stock valued at $31,000 after acquiring an additional 102 shares during the period. Advisory Services Network LLC acquired a new position in shares of Popular during the 3rd quarter valued at $31,000. Finally, Atlas Capital Advisors Inc. bought a new position in Popular during the fourth quarter worth $50,000. 87.27% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Maria Luisa Ferre sold 3,385 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $175.42, for a total transaction of $593,796.70. Following the completion of the sale, the director owned 10,156 shares in the company, valued at approximately $1,781,565.52. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alejandro M. Sanchez sold 300 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the transaction, the director owned 3,960 shares in the company, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,761 shares of company stock valued at $1,173,483 over the last three months. Corporate insiders own 2.13% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Popular from $192.00 to $197.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Benchmark upped their price objective on shares of Popular from $201.00 to $214.00 and gave the company a "buy" rating in a report on Friday, July 24th. Citigroup increased their price objective on shares of Popular from $178.00 to $188.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. UBS Group raised their target price on Popular from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $198.00 target price (up from $190.00) on shares of Popular in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $185.25.
Read Our Latest Stock Analysis on Popular
Popular Trading Up 1.0%
NASDAQ BPOP opened at $177.52 on Thursday. The company has a market cap of $11.46 billion, a P/E ratio of 11.99, a PEG ratio of 0.67 and a beta of 0.61. The company has a fifty day simple moving average of $164.90 and a 200 day simple moving average of $148.80. Popular, Inc. has a 12-month low of $108.74 and a 12-month high of $179.00.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.72 by $0.63. The firm had revenue of $846.92 million for the quarter, compared to the consensus estimate of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same quarter in the prior year, the company posted $3.09 earnings per share. Sell-side analysts predict that Popular, Inc. will post 15.72 EPS for the current year.
Popular Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.7%. Popular's payout ratio is 20.27%.
About Popular
(
Free Report)
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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