Diversified Trust Co Grows Stock Holdings in Popular, Inc. $BPOP

Key Points

• Diversified Trust Co significantly increased its stake in Popular, Inc. by 143.3% in the second quarter, acquiring an additional 6,895 shares, bringing its total holdings to 11,707 shares valued at approximately $1.29 million.
• Popular received several upgrades from analysts, with price targets increasing; Barclays and Citigroup raised their targets to $140 and $142 respectively, reflecting a strong buy sentiment.
• The company also announced a dividend of $0.1328 per share to be paid on September 30th, with a payout ratio of 29.07%.

Diversified Trust Co lifted its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 143.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,707 shares of the bank's stock after purchasing an additional 6,895 shares during the period. Diversified Trust Co's holdings in Popular were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in BPOP. Nuveen Asset Management LLC boosted its stake in Popular by 3.5% during the fourth quarter. Nuveen Asset Management LLC now owns 161,612 shares of the bank's stock worth $15,201,000 after buying an additional 5,404 shares during the period. Voloridge Investment Management LLC purchased a new position in Popular in the 4th quarter worth approximately $11,305,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Popular by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 215,936 shares of the bank's stock valued at $20,311,000 after acquiring an additional 19,282 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of Popular during the fourth quarter valued at $227,000. Finally, GTS Securities LLC bought a new position in Popular during the fourth quarter valued at about $309,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group reissued a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Zacks Research upgraded Popular from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 1st. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a research report on Thursday, July 24th. Wells Fargo & Company lifted their price objective on Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Hovde Group reaffirmed an "outperform" rating on shares of Popular in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Popular currently has an average rating of "Buy" and a consensus price target of $130.13.

Insider Transactions at Popular

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the transaction, the executive vice president directly owned 24,773 shares of the company's stock, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.23% of the company's stock.

Popular Stock Down 0.8%

Shares of BPOP traded down $1.01 on Monday, hitting $126.98. 530,424 shares of the stock traded hands, compared to its average volume of 571,806. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $128.89. The stock's 50 day moving average is $119.80 and its two-hundred day moving average is $106.02. The firm has a market capitalization of $8.58 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.66 and a beta of 0.68.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The business had revenue of $800.03 million for the quarter, compared to analysts' expectations of $777.38 million. During the same quarter last year, the company earned $2.46 EPS. Research analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently announced a sep 25 dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.1328 dividend. Popular's dividend payout ratio is presently 29.07%.

Popular Company 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.