Bank of America Corp DE increased its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,720 shares of the bank's stock after acquiring an additional 35,226 shares during the period. Bank of America Corp DE owned approximately 0.72% of Popular worth $62,486,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC bought a new position in shares of Popular during the 4th quarter valued at approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Popular during the 4th quarter valued at $28,000. Parallel Advisors LLC lifted its position in Popular by 70.8% in the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank's stock worth $31,000 after buying an additional 102 shares during the last quarter. Advisory Services Network LLC bought a new stake in Popular in the third quarter worth $31,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Popular in the fourth quarter worth $50,000. 87.27% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Piper Sandler reiterated an "overweight" rating and set a $198.00 price objective (up from $190.00) on shares of Popular in a research report on Friday, July 24th. Barclays increased their target price on shares of Popular from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their target price on shares of Popular from $180.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday. Truist Financial lifted their price target on shares of Popular from $192.00 to $197.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Popular from $190.00 to $207.00 and gave the company an "outperform" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $186.92.
Check Out Our Latest Stock Analysis on Popular
Popular Price Performance
Shares of BPOP stock opened at $173.96 on Tuesday. The company has a market capitalization of $11.23 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.67 and a beta of 0.61. The company's 50-day simple moving average is $166.47 and its two-hundred day simple moving average is $149.81. Popular, Inc. has a one year low of $108.74 and a one year high of $179.00.
Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $3.72 by $0.63. The business had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same period last year, the company posted $3.09 earnings per share. On average, research analysts expect that Popular, Inc. will post 15.72 EPS for the current fiscal year.
Insiders Place Their Bets
In other Popular news, EVP Luis E. Cestero sold 8,500 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $176.36, for a total transaction of $1,499,060.00. Following the transaction, the executive vice president owned 16,013 shares of the company's stock, valued at approximately $2,824,052.68. This trade represents a 34.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alejandro M. Sanchez sold 300 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $150.36, for a total transaction of $45,108.00. Following the completion of the sale, the director owned 3,960 shares of the company's stock, valued at approximately $595,425.60. This represents a 7.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,261 shares of company stock worth $2,672,543 in the last ninety days. 2.13% of the stock is owned by company insiders.
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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