OneAscent Wealth Management LLC Makes New $308,000 Investment in Popular, Inc. (NASDAQ:BPOP)

OneAscent Wealth Management LLC purchased a new stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,332 shares of the bank's stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Popular in the 4th quarter worth approximately $79,842,000. Massachusetts Financial Services Co. MA boosted its stake in Popular by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock worth $133,446,000 after purchasing an additional 515,798 shares during the period. First Trust Advisors LP boosted its stake in Popular by 53.8% in the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock worth $123,496,000 after purchasing an additional 459,231 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Popular by 5.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock worth $394,373,000 after purchasing an additional 201,067 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Popular by 32.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock worth $68,041,000 after purchasing an additional 175,327 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler raised their price target on Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a research report on Monday, June 30th. Barclays raised their price target on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their target price on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on Popular from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $123.29.

Popular Stock Performance

Shares of Popular stock traded up $0.23 during trading hours on Tuesday, hitting $115.22. The company's stock had a trading volume of 514,609 shares, compared to its average volume of 537,943. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $116.80. The firm has a fifty day moving average of $107.71 and a 200-day moving average of $99.60. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.63 and a beta of 0.63.

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

Popular Dividend Announcement

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

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction dated 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 owned 27,382 shares in the company, valued at approximately $2,851,561.48. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president directly owned 3,604 shares of the company's stock, valued at $376,365.72. This represents a 12.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.23% of the company's stock.

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.