Popular, Inc. (NASDAQ:BPOP) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 107.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,208 shares of the bank's stock after purchasing an additional 25,534 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Popular worth $4,545,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BPOP. Norges Bank acquired a new position in shares of Popular in the 4th quarter valued at $79,842,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Popular by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock valued at $133,446,000 after purchasing an additional 515,798 shares during the last quarter. First Trust Advisors LP lifted its stake in Popular by 53.8% during the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock worth $123,496,000 after acquiring an additional 459,231 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Popular by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock worth $394,373,000 after acquiring an additional 201,067 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Popular by 32.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock worth $68,041,000 after acquiring an additional 175,327 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Stock Down 1.6%

NASDAQ:BPOP traded down $1.69 during mid-day trading on Friday, reaching $103.81. 527,595 shares of the stock were exchanged, compared to its average volume of 523,846. The company has a 50 day simple moving average of $97.91 and a 200-day simple moving average of $96.88. The stock has a market capitalization of $7.11 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.75 and a beta of 0.62. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $107.31.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The company had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. During the same period last year, the firm earned $1.43 EPS. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.70%. Popular's payout ratio is 28.90%.

Insiders Place Their Bets

In related news, EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction that occurred 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 sale, the executive vice president now directly owns 27,382 shares in the company, valued at $2,851,561.48. The trade was a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president now owns 3,604 shares in the company, valued at approximately $376,365.72. This trade represents a 12.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BPOP. Piper Sandler increased their target price on Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Hovde Group decreased their target price on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Finally, Barclays reissued an "overweight" rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Popular has an average rating of "Moderate Buy" and an average target price of $114.43.

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.