Precision Wealth Strategies LLC Makes New Investment in Popular, Inc. $BPOP

Key Points

• Precision Wealth Strategies LLC has acquired a new stake in Popular, Inc. (NASDAQ:BPOP), purchasing 6,395 shares valued at approximately $705,000.
• Popular, Inc. reported earnings of $3.09 per share for the last quarter, exceeding analyst expectations of $2.60, along with a revenue of $800.03 million.
• Analysts have updated price targets for Popular, with Wells Fargo increasing its target from $140 to $150 and Zacks upgrading the stock to a "strong-buy" rating.

Precision Wealth Strategies LLC acquired a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,395 shares of the bank's stock, valued at approximately $705,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Popular by 21.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,975 shares of the bank's stock valued at $562,000 after purchasing an additional 1,057 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after purchasing an additional 702 shares in the last quarter. NBC Securities Inc. boosted its position in shares of Popular by 132,933.3% during the first quarter. NBC Securities Inc. now owns 3,991 shares of the bank's stock valued at $368,000 after buying an additional 3,988 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Popular during the first quarter valued at approximately $710,000. Finally, Perkins Coie Trust Co grew 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 in the last quarter. 87.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Gilberto Monzon sold 18,001 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was 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 approximately $3,083,495.31. The trade was a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.09% of the company's stock.

Popular Stock Performance

Shares of BPOP stock opened at $125.24 on Thursday. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.66 and a beta of 0.68. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $129.32. The firm's 50-day simple moving average is $121.57 and its two-hundred day simple moving average is $107.65.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.49. The company had revenue of $800.03 million during 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 last year, the business posted $2.46 EPS. Analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. UBS Group reissued a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Zacks Research raised shares of Popular from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 1st. Barclays increased their price objective on shares of Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $130.13.

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.

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