Popular, Inc. (NASDAQ:BPOP) Shares Sold by Burney Co.

Burney Co. decreased its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 17.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,062 shares of the bank's stock after selling 3,764 shares during the period. Burney Co.'s holdings in Popular were worth $1,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new position in Popular in the fourth quarter worth $27,000. Raymond James Financial Inc. purchased a new position in Popular in the fourth quarter worth $3,034,000. Corient Private Wealth LLC grew its holdings in Popular by 2.0% in the fourth quarter. Corient Private Wealth LLC now owns 13,247 shares of the bank's stock worth $1,246,000 after purchasing an additional 257 shares during the last quarter. Xponance Inc. grew its holdings in Popular by 9.0% in the fourth quarter. Xponance Inc. now owns 3,754 shares of the bank's stock worth $353,000 after purchasing an additional 311 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Popular by 23.3% in the fourth quarter. Teacher Retirement System of Texas now owns 24,037 shares of the bank's stock worth $2,261,000 after purchasing an additional 4,550 shares during the last quarter. Institutional investors own 87.27% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on BPOP shares. Piper Sandler lifted their price target on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods lifted their price target on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday. Barclays boosted their price objective on shares of Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Citigroup boosted their price objective on shares of Popular from $133.00 to $142.00 and gave the company a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $128.88.

Insider Transactions at Popular

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were 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 in the company, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Adorno Denissa Rodriguez sold 500 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the completion of the transaction, the vice president 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. Corporate insiders own 2.23% of the company's stock.

Popular Price Performance

NASDAQ:BPOP traded down $0.96 during mid-day trading on Monday, hitting $114.37. The company's stock had a trading volume of 51,837 shares, compared to its average volume of 578,403. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $118.54. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.62 and a beta of 0.63. The business's fifty day moving average is $108.56 and its two-hundred day moving average is $100.18.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating the consensus estimate of $2.60 by $0.49. The company had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.60%. During the same period in the prior year, the company earned $2.46 earnings per share. Analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th were given a $0.70 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.45%. Popular's dividend payout ratio (DPR) is currently 27.13%.

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.