HB Wealth Management LLC purchased a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,034 shares of the bank's stock, valued at approximately $224,000.
Several other large investors have also modified their holdings of BPOP. AQR Capital Management LLC lifted its stake in shares of Popular by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank's stock valued at $129,722,000 after purchasing an additional 495,325 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Popular in the 1st quarter valued at $10,122,000. Invenomic Capital Management LP raised its holdings in shares of Popular by 136.1% in the 1st quarter. Invenomic Capital Management LP now owns 169,183 shares of the bank's stock valued at $15,627,000 after buying an additional 97,531 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Popular by 216.0% in the 1st quarter. Acadian Asset Management LLC now owns 128,259 shares of the bank's stock valued at $11,846,000 after buying an additional 87,669 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Popular in the 1st quarter valued at $7,905,000. Institutional investors and hedge funds own 87.27% of the company's stock.
Analyst Upgrades and Downgrades
BPOP has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Hovde Group reiterated an "outperform" rating on shares of Popular in a report on Friday, August 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Popular in a report on Saturday, September 27th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a report on Thursday, July 24th. Finally, Barclays boosted their price objective on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $130.13.
Get Our Latest Report on BPOP
Popular Stock Performance
NASDAQ:BPOP opened at $125.31 on Wednesday. The stock has a 50-day simple moving average of $122.43 and a 200-day simple moving average of $108.75. The stock has a market cap of $8.47 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.66 and a beta of 0.68. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same period in the prior year, the firm posted $2.46 EPS. On average, equities research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.
Popular Announces Dividend
The company also recently announced a sep 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.1328 dividend. Popular's dividend payout ratio (DPR) is presently 29.07%.
Insider Activity
In related news, EVP Gilberto Monzon sold 18,001 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 24,773 shares of the company's stock, valued at $3,083,495.31. This represents a 42.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.23% of the stock is currently owned by company insiders.
Popular Company 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Popular, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Popular wasn't on the list.
While Popular currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
