Kesler Norman & Wride LLC bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,974 shares of the bank's stock, valued at approximately $1,740,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Popular by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank's stock worth $1,057,167,000 after acquiring an additional 37,424 shares during the period. AQR Capital Management LLC raised its stake in Popular by 56.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank's stock worth $376,314,000 after acquiring an additional 1,065,452 shares during the period. Geode Capital Management LLC raised its stake in Popular by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank's stock worth $175,057,000 after acquiring an additional 64,778 shares during the period. LSV Asset Management raised its stake in Popular by 9.3% during the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank's stock worth $129,966,000 after acquiring an additional 88,765 shares during the period. Finally, Norges Bank bought a new stake in Popular during the 4th quarter worth approximately $104,955,000. Institutional investors own 87.27% of the company's stock.
Insider Activity at Popular
In related news, Director Alejandro M. Ballester sold 23,000 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were 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 of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, Director Alejandro M. Sanchez sold 300 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total transaction of $45,108.00. Following the completion of the transaction, the director directly owned 3,960 shares of the company's stock, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,500 shares of company stock valued at $4,415,870. 2.13% of the stock is owned by corporate insiders.
Popular Price Performance
Popular stock opened at $151.10 on Wednesday. The stock has a market cap of $9.75 billion, a P/E ratio of 11.16, a PEG ratio of 0.74 and a beta of 0.62. Popular, Inc. has a 1 year low of $102.56 and a 1 year high of $152.97. The firm's 50 day moving average price is $144.29 and its 200-day moving average price is $133.90.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $816.08 million for the quarter, compared to analysts' expectations of $866.54 million. Popular had a net margin of 20.10% and a return on equity of 14.53%. During the same quarter last year, the business posted $2.56 earnings per share. As a group, equities analysts expect that Popular, Inc. will post 15.14 EPS for the current year.
Popular Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.0%. Popular's dividend payout ratio (DPR) is 22.16%.
Wall Street Analyst Weigh In
A number of research firms have commented on BPOP. Citigroup raised their target price on shares of Popular from $170.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Zacks Research cut shares of Popular from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. UBS Group lifted their price objective on shares of Popular from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Popular from $155.00 to $177.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Piper Sandler lifted their price objective on shares of Popular from $156.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $168.73.
View Our Latest Report on BPOP
Popular Company Profile
(
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.
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