Massachusetts Financial Services Co. MA Grows Stock Position in Popular, Inc. (NASDAQ:BPOP)

Massachusetts Financial Services Co. MA increased its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,485,141 shares of the bank's stock after acquiring an additional 66,412 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.14% of Popular worth $137,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake in Popular by 0.6% during 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 buying an additional 190 shares during the last quarter. QRG Capital Management Inc. increased its holdings 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 worth $398,000 after purchasing an additional 195 shares in the last quarter. Perkins Coie Trust Co grew its holdings in shares of Popular by 6.7% in the first quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock worth $296,000 after acquiring an additional 200 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Popular by 2.0% in the fourth quarter. Corient Private Wealth LLC now owns 13,247 shares of the bank's stock worth $1,246,000 after acquiring an additional 257 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Popular by 5.3% in the fourth quarter. Marshall Wace LLP now owns 5,202 shares of the bank's stock worth $489,000 after acquiring an additional 261 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BPOP shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a research report on Monday, June 30th. Barclays boosted their target price on Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. UBS Group reissued a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price objective 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 price target on Popular from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.29.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction 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 represents a 20.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $52,215.00. Following the sale, the vice president owned 3,604 shares in the company, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company's stock.

Popular Stock Up 0.6%

NASDAQ:BPOP traded up $0.73 during midday trading on Friday, hitting $115.58. The stock had a trading volume of 492,339 shares, compared to its average volume of 536,758. Popular, Inc. has a one year low of $78.23 and a one year high of $117.70. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.61 and a beta of 0.63. The stock has a 50-day moving average of $107.17 and a 200 day moving average of $99.23.

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

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.42%. Popular's dividend payout ratio is presently 28.90%.

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.