Ameriprise Financial Inc. lowered its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,401,045 shares of the bank's stock after selling 46,640 shares during the quarter. Ameriprise Financial Inc. owned about 2.02% of Popular worth $129,424,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Popular during the first quarter worth $47,000. Versant Capital Management Inc grew its position in Popular by 589.9% in the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after acquiring an additional 702 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Popular by 33.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock valued at $162,000 after purchasing an additional 438 shares during the period. Crestline Management LP acquired a new stake in shares of Popular in the 4th quarter valued at $215,000. Finally, Vise Technologies Inc. purchased a new stake in Popular during the fourth quarter worth approximately $227,000. 87.27% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Popular news, EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the transaction, the executive vice president directly owned 27,382 shares of the company's stock, valued at $2,851,561.48. The trade was a 20.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is currently owned by company insiders.
Popular Price Performance
Shares of Popular stock traded up $0.31 during trading on Friday, hitting $125.10. 319,784 shares of the company were exchanged, compared to its average volume of 562,039. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $126.27. The firm's fifty day moving average price is $115.09 and its 200 day moving average price is $103.03. The firm has a market capitalization of $8.45 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.65 and a beta of 0.65.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. The firm had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same quarter in the previous year, the firm posted $2.46 earnings per share. As a group, equities research analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.00 dividend on an annualized basis and a yield of 2.4%. This is an increase from Popular's previous quarterly dividend of $0.70. Popular's payout ratio is presently 29.07%.
Analyst Upgrades and Downgrades
BPOP has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Wall Street Zen lowered shares of Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. UBS Group reiterated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Citigroup increased their price objective on shares of Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price target on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.88.
Check Out Our Latest Stock Report on BPOP
About Popular
(
Free Report)
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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