Dimensional Fund Advisors LP Boosts Stock Holdings in Popular, Inc. $BPOP

Key Points

• Dimensional Fund Advisors LP increased its stake in Popular, Inc. to approximately 5.15% of the company, holding 3,569,149 shares worth $329,674,000 after buying an additional 34,322 shares in Q1.
• Popular, Inc. recently reported earnings of $3.09 per share, surpassing estimates by $0.49, alongside a revenue of $800.03 million for the quarter.
• Analysts have upgraded Popular's stock ratings, with Wells Fargo and Barclays both setting a price target of $140.00, reflecting increased confidence in the stock's potential.

Dimensional Fund Advisors LP increased its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,569,149 shares of the bank's stock after buying an additional 34,322 shares during the period. Dimensional Fund Advisors LP owned 5.15% of Popular worth $329,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC grew its stake in Popular by 4.2% in the first quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank's stock valued at $263,000 after acquiring an additional 116 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Popular by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,660 shares of the bank's stock worth $5,788,000 after purchasing an additional 185 shares in the last quarter. GSA Capital Partners LLP grew its position in Popular by 3.4% in the 1st quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank's stock valued at $543,000 after purchasing an additional 191 shares during the period. QRG Capital Management Inc. increased its stake in Popular by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock valued at $398,000 after purchasing an additional 195 shares in the last quarter. Finally, Perkins Coie Trust Co raised its holdings in Popular by 6.7% during the first quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock worth $296,000 after buying an additional 200 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on BPOP. Piper Sandler raised their price target 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. Wells Fargo & Company lifted their price objective 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. Wall Street Zen cut Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Barclays raised their price objective on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Citigroup boosted their target price on shares of Popular from $133.00 to $142.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $128.88.

Insider Transactions at Popular

In related 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 value of $728,980.00. Following the transaction, the executive vice president owned 27,382 shares of the company's stock, valued at $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.09% of the company's stock.

Popular Price Performance

NASDAQ BPOP traded down $0.2550 during trading on Thursday, reaching $119.0850. The company's stock had a trading volume of 210,461 shares, compared to its average volume of 558,180. The firm has a fifty day moving average of $112.84 and a 200 day moving average of $102.17. Popular, Inc. has a one year low of $78.23 and a one year high of $120.17. The stock has a market capitalization of $8.05 billion, a PE ratio of 11.55, a P/E/G ratio of 0.62 and a beta of 0.65.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $777.38 million. During the same period in the prior year, the business earned $2.46 earnings per share. Research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

About Popular

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.