Empowered Funds LLC Acquires 14,288 Shares of Popular, Inc. $BPOP

Key Points

• Empowered Funds LLC increased its Popular (BPOP) stake by 74.7% in the first quarter, purchasing 14,288 additional shares to own 33,418 shares worth approximately $4.5 million. Institutional investors collectively own 87.27% of the company.
• Popular reported quarterly EPS of $4.35, beating the $3.72 consensus estimate and rising from $3.09 a year earlier, although revenue of $846.92 million came in below expectations.
• BPOP recently traded near its 52-week high, with analysts maintaining a consensus “Buy” rating and an average price target of $184.42; the company also pays a $0.75 quarterly dividend, yielding about 1.7%.

Empowered Funds LLC lifted its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 74.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,418 shares of the bank's stock after purchasing an additional 14,288 shares during the quarter. Empowered Funds LLC owned approximately 0.05% of Popular worth $4,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BPOP. Acumen Wealth Advisors LLC bought a new stake in Popular in the fourth quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Popular during the fourth quarter worth $28,000. Parallel Advisors LLC raised its holdings in Popular by 70.8% during the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank's stock valued at $31,000 after buying an additional 102 shares in the last quarter. Advisory Services Network LLC bought a new position in Popular during the third quarter valued at about $31,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Popular in the fourth quarter worth about $50,000. Institutional investors own 87.27% of the company's stock.

Trending Headlines about Popular

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Strong momentum and earnings performance support the stock. Zacks identifies BPOP as a top-ranked momentum stock, while Popular’s latest quarterly results included adjusted earnings of $4.35 per share—well above the $3.72 analyst consensus and up from $3.09 a year earlier. Popular is a Top-Ranked Momentum Stock
• Positive Sentiment: BPOP’s valuation remains potentially attractive relative to its growth. The stock’s reported price-to-earnings ratio is approximately 11.8, and its price-to-earnings-growth ratio is below 1, metrics that may appeal to investors seeking earnings growth at a reasonable price. Popular Soars to 52-Week High
• Neutral Sentiment: The 52-week high creates a near-term valuation and profit-taking consideration. Zacks questions whether investors should “cash out” after the recent rally, suggesting that expectations for further gains may already be reflected in the share price. Investors will likely focus on whether Popular can sustain earnings growth and improve revenue, which came in below estimates in the latest quarter.

Popular Price Performance

Shares of BPOP stock opened at $175.21 on Monday. Popular, Inc. has a 12 month low of $108.74 and a 12 month high of $176.59. The firm has a market cap of $11.31 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. The stock has a 50 day moving average of $163.43 and a 200-day moving average of $147.76.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.47%. The business had revenue of $846.92 million for the quarter, compared to the consensus estimate of $878.41 million. During the same quarter last year, the company posted $3.09 earnings per share. As a group, equities analysts predict that Popular, Inc. will post 15.72 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 29th. Popular's dividend payout ratio (DPR) is currently 20.27%.

Insider Buying and Selling at Popular

In other news, 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 transaction, the director owned 3,960 shares in the company, valued at approximately $595,425.60. The trade was a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maria Luisa Ferre sold 3,385 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $175.42, for a total transaction of $593,796.70. Following the transaction, the director owned 10,156 shares in the company, valued at approximately $1,781,565.52. The trade was a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,761 shares of company stock worth $1,173,483 over the last 90 days. Company insiders own 2.13% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $198.00 price target (up from $190.00) on shares of Popular in a research note on Friday, July 24th. UBS Group raised their price objective on Popular from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Royal Bank Of Canada boosted their target price on Popular from $163.00 to $181.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Zacks Research cut Popular from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Barclays increased their price target on Popular from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Popular currently has an average rating of "Buy" and a consensus price target of $184.42.

About Popular

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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