Inspire Investing LLC purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,530 shares of the bank's stock, valued at approximately $1,681,000.
Several other institutional investors have also modified their holdings of BPOP. Acumen Wealth Advisors LLC bought a new stake in Popular during the 4th quarter worth approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Popular in the fourth quarter valued at approximately $28,000. Parallel Advisors LLC lifted its stake in Popular by 70.8% in 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 acquired a new position in shares of Popular in the third quarter valued at approximately $31,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Popular in the fourth quarter valued at approximately $50,000. Institutional investors own 87.27% of the company's stock.
Insider Activity at Popular
In other Popular news, Director Alejandro M. Ballester sold 23,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total value of $3,450,000.00. Following the completion of the transaction, the director directly owned 34,588 shares in the company, valued at $5,188,200. This trade represents a 39.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $148.51, for a total value of $920,762.00. Following the transaction, the executive vice president directly owned 11,255 shares in the company, valued at $1,671,480.05. This trade represents a 35.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,500 shares of company stock valued at $4,415,870. 2.13% of the stock is owned by insiders.
Popular Stock Down 0.4%
Shares of BPOP stock opened at $164.18 on Wednesday. Popular, Inc. has a 12 month low of $108.74 and a 12 month high of $169.14. The company's fifty day simple moving average is $152.91 and its 200-day simple moving average is $140.42. The firm has a market cap of $10.60 billion, a PE ratio of 12.13, a P/E/G ratio of 0.82 and a beta of 0.62.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.48. Popular had a net margin of 20.10% and a return on equity of 14.53%. The firm had revenue of $816.08 million for the quarter, compared to analyst estimates of $866.54 million. During the same period in the previous year, the business earned $2.56 EPS. On average, equities analysts predict that Popular, Inc. will post 15.13 earnings per share for the current fiscal year.
Popular Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th will be issued a $0.75 dividend. The ex-dividend date is Friday, May 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. Popular's dividend payout ratio (DPR) is presently 22.16%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on BPOP shares. Piper Sandler raised their price objective on shares of Popular from $173.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday. Wells Fargo & Company upped their target price on shares of Popular from $135.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday, March 30th. Weiss Ratings upgraded Popular from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, May 4th. Barclays lifted their price target on Popular from $175.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. Finally, UBS Group upped their price objective on Popular from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Popular has a consensus rating of "Buy" and a consensus price target of $171.18.
Read Our Latest Stock Report on BPOP
About Popular
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding BPOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Popular, Inc. (NASDAQ:BPOP - Free Report).
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.
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 Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
