Janney Montgomery Scott LLC Buys 4,818 Shares of Popular, Inc. (NASDAQ:BPOP)

Janney Montgomery Scott LLC increased its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 50.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,449 shares of the bank's stock after purchasing an additional 4,818 shares during the quarter. Janney Montgomery Scott LLC's holdings in Popular were worth $1,335,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its position in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Popular by 0.7% in the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock valued at $1,971,000 after buying an additional 143 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Popular by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock valued at $2,949,000 after buying an additional 190 shares in the last quarter. Perkins Coie Trust Co increased its holdings in Popular by 6.7% during the first quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock worth $296,000 after buying an additional 200 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Popular by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock worth $2,888,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 87.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on BPOP shares. Piper Sandler lifted their price objective on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Wall Street Zen cut Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods upped their price objective on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Barclays reaffirmed an "overweight" rating and issued a $125.00 price objective (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $116.14.

Insider Buying and Selling at Popular

In other news, VP Adorno Denissa Rodriguez sold 500 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president owned 3,604 shares of the company's stock, valued at approximately $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction of $728,980.00. Following the transaction, the executive vice president directly owned 27,382 shares in the company, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.23% of the stock is owned by company insiders.

Popular Price Performance

Popular stock traded up $2.47 during trading hours on Tuesday, hitting $112.68. The company had a trading volume of 632,284 shares, compared to its average volume of 533,322. The firm has a 50-day moving average of $103.27 and a 200 day moving average of $97.59. The firm has a market cap of $7.72 billion, a PE ratio of 11.63, a PEG ratio of 0.65 and a beta of 0.63. Popular, Inc. has a one year low of $78.23 and a one year high of $113.43.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. The company had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. Popular had a return on equity of 12.22% and a net margin of 15.82%. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share. As a group, research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, May 29th. Popular's dividend payout ratio is 28.90%.

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.