Wellington Management Group LLP increased its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,940,484 shares of the bank's stock after buying an additional 32,078 shares during the period. Wellington Management Group LLP owned 2.80% of Popular worth $179,243,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Popular by 589.9% in the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after buying an additional 702 shares during the period. PNC Financial Services Group Inc. lifted its stake in Popular by 33.4% in the 1st 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 in the last quarter. Crestline Management LP purchased a new stake in Popular in the 4th quarter worth approximately $215,000. Vise Technologies Inc. purchased a new stake in Popular in the 4th quarter worth approximately $227,000. Finally, OneAscent Investment Solutions LLC purchased a new stake in Popular in the 1st quarter worth approximately $249,000. 87.27% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Popular news, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of the sale, the executive vice president directly owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.23% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on BPOP. Wells Fargo & Company increased their target price on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Barclays lifted their target price on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. UBS Group restated a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a research note 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $128.88.
Get Our Latest Analysis on Popular
Popular Stock Up 0.6%
Popular stock traded up $0.70 during trading hours on Tuesday, hitting $123.56. The stock had a trading volume of 608,251 shares, compared to its average volume of 426,920. The stock has a market capitalization of $8.35 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $124.40. The stock's 50-day moving average price is $114.25 and its 200-day moving average price is $102.72.
Popular (NASDAQ:BPOP - Get Free Report) last issued its 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 business had revenue of $800.03 million during the quarter, compared to analysts' expectations of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same period in the previous year, the company earned $2.46 earnings per share. On average, research analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.4%. This is a boost from Popular's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, September 12th. Popular's dividend payout ratio is presently 27.13%.
Popular Profile
(
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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