2,701 Shares in Popular, Inc. (NASDAQ:BPOP) Acquired by OneAscent Investment Solutions LLC

Key Points

• OneAscent Investment Solutions LLC invested $249,000 in Popular, Inc. (NASDAQ:BPOP), acquiring 2,701 shares during the first quarter.
• Research analysts have mixed perspectives on Popular, with Barclays and Wells Fargo giving it an "overweight" rating and raising their target prices, while Wall Street Zen downgraded it to a "hold" rating.
• Popular recently reported $3.09 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $2.60, along with a revenue of $800.03 million.

OneAscent Investment Solutions LLC acquired a new stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,701 shares of the bank's stock, valued at approximately $249,000.

Other hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its position in shares of Popular by 4.2% during the 1st quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank's stock worth $263,000 after purchasing an additional 116 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Popular by 0.3% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,660 shares of the bank's stock valued at $5,788,000 after purchasing an additional 185 shares during the period. Treasurer of the State of North Carolina lifted 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 purchasing an additional 190 shares during the period. GSA Capital Partners LLP boosted its holdings in Popular by 3.4% during the first quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank's stock worth $543,000 after buying an additional 191 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Popular by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock worth $398,000 after buying an additional 195 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BPOP has been the subject of a number of research reports. Hovde Group lifted their price target on shares of Popular from $126.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Piper Sandler lifted their price objective on Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Citigroup upped their target price on Popular from $133.00 to $142.00 and gave the company a "buy" rating in a report on Thursday, July 24th. UBS Group reaffirmed a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Popular currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.88.

Insider Activity

In other Popular news, EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the sale, the executive vice president directly owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. The trade was a 20.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.09% of the company's stock.

Popular Trading Down 1.1%

Shares of NASDAQ:BPOP traded down $1.28 on Friday, hitting $118.00. The company had a trading volume of 410,270 shares, compared to its average volume of 426,441. The company has a market cap of $7.97 billion, a PE ratio of 11.43, a PEG ratio of 0.61 and a beta of 0.65. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $119.54. The business has a 50 day moving average of $112.06 and a 200 day moving average of $101.83.

Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The company had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same period in the prior year, the firm earned $2.46 EPS. As a group, equities analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

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.