Charles Schwab Investment Management Inc. decreased its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 633,312 shares of the bank's stock after selling 44,191 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.91% of Popular worth $58,499,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in Popular by 589.9% during the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after buying an additional 702 shares during the period. PNC Financial Services Group Inc. increased its stake in Popular by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock worth $162,000 after acquiring an additional 438 shares during the last quarter. Crestline Management LP acquired a new stake in Popular during the fourth quarter worth about $215,000. Vise Technologies Inc. acquired a new stake in Popular during the fourth quarter worth about $227,000. Finally, Arkadios Wealth Advisors increased its stake in Popular by 25.4% during the first quarter. Arkadios Wealth Advisors now owns 2,783 shares of the bank's stock worth $257,000 after acquiring an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on BPOP. Wells Fargo & Company increased their target price on Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Piper Sandler upped their price target on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. UBS Group reaffirmed a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. Finally, Barclays increased their target price on shares of Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.88.
Read Our Latest Stock Analysis on Popular
Popular Stock Performance
NASDAQ:BPOP traded down $1.28 during mid-day trading on Friday, hitting $118.00. 410,270 shares of the stock were exchanged, compared to its average volume of 422,337. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65. The firm's 50-day simple moving average is $112.06 and its 200 day simple moving average is $101.82. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $119.54.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%. The firm had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same quarter last year, the company earned $2.46 EPS. On average, analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Insider Buying and Selling
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 transaction, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.23% of the company's stock.
Popular Profile
(
Free Report)
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.
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