Wealth Enhancement Advisory Services LLC Acquires 7,539 Shares of Popular, Inc. $BPOP

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Popular, Inc. by 61.5%, acquiring an additional 7,539 shares, bringing its total to 19,795 shares worth approximately $2.26 million.
• Popular, Inc. reported earnings per share of $3.09 for the latest quarter, exceeding analysts' expectations of $2.60, alongside a revenue of $800.03 million.
• The company recently declared a dividend of $0.1328 per share, payable on September 30, with a payout ratio of 29.07%.

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 61.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,795 shares of the bank's stock after acquiring an additional 7,539 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Popular were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Popular in the first quarter worth $47,000. Versant Capital Management Inc increased 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 worth $76,000 after purchasing an additional 702 shares during the period. Quarry LP bought a new position in shares of Popular in the first quarter worth $84,000. PNC Financial Services Group Inc. increased its holdings in shares of Popular by 33.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock worth $162,000 after purchasing an additional 438 shares during the period. Finally, Focus Partners Wealth bought a new position in shares of Popular in the first quarter worth $207,000. Institutional investors own 87.27% of the company's stock.

Popular Stock Up 0.8%

NASDAQ BPOP opened at $128.04 on Monday. The company has a 50-day simple moving average of $120.90 and a two-hundred day simple moving average of $107.14. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $129.32. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.66 and a beta of 0.68.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) 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 business had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. During the same period in the prior year, the business posted $2.46 earnings per share. Equities analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.1328 per share. Popular's payout ratio is 29.07%.

Insider Transactions at Popular

In other Popular 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 completion of the sale, the executive vice president directly owned 24,773 shares in the company, valued at $3,083,495.31. This represents a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BPOP has been the topic of several research analyst reports. Wells Fargo & Company upped their price target on shares of Popular from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Hovde Group reaffirmed an "outperform" rating on shares of Popular in a report on Friday, August 29th. UBS Group reaffirmed a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a research report on Thursday, July 24th. Finally, Citigroup upped their target price on shares of Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Popular currently has an average rating of "Buy" and a consensus target price of $130.13.

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.

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