Cwm LLC Grows Stock Position in Popular, Inc. (NASDAQ:BPOP)

Cwm LLC increased its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 213.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,656 shares of the bank's stock after acquiring an additional 10,668 shares during the period. Cwm LLC's holdings in Popular were worth $1,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BPOP. Janney Montgomery Scott LLC increased its holdings in Popular by 50.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank's stock valued at $1,335,000 after purchasing an additional 4,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Popular by 105.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank's stock valued at $1,132,000 after acquiring an additional 6,281 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Popular by 4.7% in the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock valued at $398,000 after purchasing an additional 195 shares in the last quarter. American Century Companies Inc. increased its stake in Popular by 3.0% during the 4th quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after buying an additional 39,999 shares during the period. Finally, Harbor Advisors LLC lifted its holdings in Popular by 30.0% during the 4th quarter. Harbor Advisors LLC now owns 13,000 shares of the bank's stock worth $1,223,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.

Popular Price Performance

NASDAQ BPOP opened at $115.58 on Monday. The firm's fifty day moving average price is $107.48 and its 200 day moving average price is $99.46. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $115.96. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.63 and a beta of 0.63.

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

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.42%. Popular's dividend payout ratio (DPR) is 28.90%.

Insider Activity

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the sale, the vice president owned 3,604 shares of the company's stock, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. This trade represents a 20.36% decrease in their position. The disclosure for this sale can be found here. 2.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BPOP has been the topic of a number of recent research reports. Hovde Group upped their price objective on Popular from $114.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. 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. Wells Fargo & Company increased their price target on Popular from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Barclays lifted their price target on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.29.

Popular Profile

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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