Popular, Inc. $BPOP Position Increased by Cwm LLC

Key Points

• Cwm LLC increased its stake in Popular, Inc. by 78.7% in Q2, owning 27,972 shares valued at approximately $3.08 million.
• The bank reported a strong earnings per share of $3.09, exceeding analyst expectations and reflecting a net margin of 16.49%.
• Popular recently declared a dividend of $0.1328 per share, with a payout ratio of 29.07% for its shareholders.

Cwm LLC lifted its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 78.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,972 shares of the bank's stock after acquiring an additional 12,316 shares during the quarter. Cwm LLC's holdings in Popular were worth $3,083,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of Popular by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank's stock valued at $8,046,000 after acquiring an additional 8,262 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Popular by 164.7% in the 1st quarter. Cerity Partners LLC now owns 15,731 shares of the bank's stock valued at $1,453,000 after acquiring an additional 9,788 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Popular by 50.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank's stock valued at $1,335,000 after acquiring an additional 4,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Popular by 105.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank's stock valued at $1,132,000 after acquiring an additional 6,281 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Popular by 4.7% in the 1st quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock valued at $398,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Trading Up 2.1%

NASDAQ:BPOP opened at $115.79 on Friday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32. The firm's fifty day simple moving average is $123.38 and its 200 day simple moving average is $110.18. The firm has a market capitalization of $7.83 billion, a PE ratio of 11.22, a PEG ratio of 0.49 and a beta of 0.68.

Popular (NASDAQ:BPOP - Get Free Report) last posted 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 business had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same period last year, the business posted $2.46 EPS. As a group, analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.1328 dividend. Popular's dividend payout ratio is 29.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays restated an "overweight" rating on shares of Popular in a research report on Wednesday, October 8th. UBS Group reiterated a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Wells Fargo & Company increased their target price on shares of Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, September 22nd. Zacks Research downgraded shares of Popular from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Popular currently has an average rating of "Moderate Buy" and an average price target of $132.67.

Insider Transactions at Popular

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total value of $2,240,584.47. Following the sale, the executive vice president directly owned 24,773 shares in the company, valued at $3,083,495.31. This trade represents a 42.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.09% of the stock is owned by corporate insiders.

Popular 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.

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