Ramirez Asset Management Inc. bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,408 shares of the bank's stock, valued at approximately $1,478,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steph & Co. bought a new stake in shares of Popular during the second quarter worth $39,000. Farther Finance Advisors LLC grew its stake in shares of Popular by 112.2% in the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank's stock worth $46,000 after purchasing an additional 221 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Popular by 3,925.0% in the second quarter. IFP Advisors Inc now owns 483 shares of the bank's stock worth $53,000 after purchasing an additional 471 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Popular in the first quarter worth $47,000. Finally, Quarry LP bought a new stake in shares of Popular in the first quarter worth $84,000. Institutional investors own 87.27% of the company's stock.
Popular Trading Down 0.8%
Shares of NASDAQ BPOP opened at $124.78 on Friday. The firm's 50-day moving average price is $122.86 and its 200-day moving average price is $109.09. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $129.32. The firm has a market capitalization of $8.43 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.65 and a beta of 0.68.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating 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 firm had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same quarter in the prior year, the business earned $2.46 earnings per share. Equities research analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.
Popular Dividend Announcement
The business also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.1328 per share. Popular's dividend payout ratio is currently 29.07%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on BPOP. Wells Fargo & Company boosted their price objective on shares of Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. Hovde Group reissued an "outperform" rating on shares of Popular in a research note on Friday, August 29th. Finally, Truist Financial began coverage on shares of Popular in a research note on Thursday. They issued a "buy" rating and a $153.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Popular currently has a consensus rating of "Moderate Buy" and an average target price of $132.67.
Check Out Our Latest Stock Report on BPOP
Insider Buying and Selling at Popular
In other news, EVP Gilberto Monzon sold 18,001 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the transaction, the executive vice president owned 24,773 shares in the company, valued at approximately $3,083,495.31. This represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.09% of the company's stock.
Popular Company Profile
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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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