Insight Wealth Strategies LLC Takes Position in Popular, Inc. $BPOP

Key Points

• Insight Wealth Strategies acquired 41,032 shares of Popular in the second quarter, worth approximately $6.9 million; institutional investors and hedge funds collectively own 87.27% of the stock.
• Popular reported quarterly EPS of $4.35, beating estimates by $0.63, while revenue of $846.92 million fell short of expectations. The bank posted a 15.47% return on equity and a 21.37% net margin.
• Analysts remain bullish, with an average “Buy” rating and a $186.92 target price, although insiders sold 53,261 shares worth $9.34 million over the past 90 days.

Insight Wealth Strategies LLC acquired a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,032 shares of the bank's stock, valued at approximately $6,914,000. Insight Wealth Strategies LLC owned 0.06% of Popular at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Popular by 30.5% in the 1st quarter. Parallel Advisors LLC now owns 321 shares of the bank's stock valued at $43,000 after purchasing an additional 75 shares during the last quarter. Xponance LLC increased its holdings in shares of Popular by 2.1% during the 4th quarter. Xponance LLC now owns 3,892 shares of the bank's stock worth $485,000 after buying an additional 80 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Popular by 1.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,262 shares of the bank's stock worth $974,000 after buying an additional 84 shares during the last quarter. Severin Investments LLC raised its position in shares of Popular by 1.9% during the 1st quarter. Severin Investments LLC now owns 4,799 shares of the bank's stock valued at $644,000 after buying an additional 91 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Popular by 1.7% in the first quarter. Sequoia Financial Advisors LLC now owns 5,693 shares of the bank's stock valued at $764,000 after acquiring an additional 95 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Popular news, CEO Javier D. Ferrer sold 35,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $175.43, for a total value of $6,140,050.00. Following the completion of the sale, the chief executive officer owned 96,478 shares in the company, valued at approximately $16,925,135.54. The trade was a 26.62% 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. Also, Director Alejandro M. Sanchez sold 300 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the sale, the director directly owned 3,960 shares of the company's stock, valued at $595,425.60. The trade was a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,261 shares of company stock valued at $9,336,093 in the last 90 days. Company insiders own 2.13% of the company's stock.

Popular Stock Performance

NASDAQ BPOP opened at $174.84 on Wednesday. The firm has a 50 day simple moving average of $166.94 and a 200-day simple moving average of $150.13. Popular, Inc. has a one year low of $108.74 and a one year high of $179.00. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.67 and a beta of 0.61.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup raised their target price on Popular from $178.00 to $188.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods upped their price target on Popular from $190.00 to $207.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Truist Financial increased their price target on Popular from $192.00 to $197.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Royal Bank Of Canada raised their price objective on Popular from $163.00 to $181.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Finally, Barclays boosted their price objective on shares of Popular from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $186.92.

Popular Profile

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.

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