OneAscent Financial Services LLC Purchases Shares of 7,900 Popular, Inc. (NASDAQ:BPOP)

OneAscent Financial Services LLC purchased a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,900 shares of the bank's stock, valued at approximately $726,000.

Other hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in shares of Popular in the fourth quarter valued at $27,000. Versant Capital Management Inc lifted its position in shares of Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after buying an additional 702 shares in the last quarter. Crestline Management LP purchased a new stake in shares of Popular in the 4th quarter worth $215,000. AXQ Capital LP acquired a new position in shares of Popular in the fourth quarter valued at about $224,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Popular in the fourth quarter valued at approximately $227,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Stock Performance

Shares of BPOP stock opened at $114.99 on Tuesday. The company's 50-day simple moving average is $107.71 and its 200-day simple moving average is $99.60. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.63 and a beta of 0.63. Popular, Inc. has a one year low of $78.23 and a one year high of $116.80.

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

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.43%. The ex-dividend date was Thursday, May 29th. Popular's dividend payout ratio is currently 28.90%.

Insider Activity

In other news, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $52,215.00. Following the completion of the transaction, the vice president owned 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BPOP. Piper Sandler upped their price objective on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Wells Fargo & Company boosted their price target on Popular from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. UBS Group reiterated a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Hovde Group upped their price target on Popular from $114.00 to $126.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. Finally, Barclays lifted their price target on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $123.29.

About Popular

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.

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