Nisa Investment Advisors LLC Makes New Investment in Popular, Inc. (NASDAQ:BPOP)

Nisa Investment Advisors LLC purchased a new position in Popular, Inc. (NASDAQ:BPOP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,048 shares of the bank's stock, valued at approximately $1,563,000.

Several other large investors also recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC purchased a new stake in shares of Popular in the fourth quarter valued at $44,000. Assetmark Inc. raised its position in Popular by 55.4% in the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank's stock worth $89,000 after purchasing an additional 506 shares during the period. Covestor Ltd raised its position in Popular by 68.9% in the 1st quarter. Covestor Ltd now owns 1,096 shares of the bank's stock worth $90,000 after purchasing an additional 447 shares during the period. Lazard Asset Management LLC lifted its stake in Popular by 51.9% in the first quarter. Lazard Asset Management LLC now owns 1,121 shares of the bank's stock worth $91,000 after purchasing an additional 383 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Popular by 65.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,021 shares of the bank's stock valued at $122,000 after buying an additional 802 shares during the period. 87.27% of the stock is owned by institutional investors.

Insider Activity at Popular

In other Popular news, EVP Luis E. Cestero sold 599 shares of the business's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $2,272,208.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the transaction, the executive vice president now owns 26,529 shares of the company's stock, valued at approximately $2,272,208.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Luis E. Cestero sold 4,641 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now directly owns 26,772 shares of the company's stock, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

Popular Price Performance

Shares of NASDAQ:BPOP traded down $0.39 during trading hours on Monday, hitting $82.36. The company's stock had a trading volume of 509,052 shares, compared to its average volume of 458,272. The firm's fifty day moving average price is $84.57 and its 200 day moving average price is $77.75. Popular, Inc. has a 52 week low of $52.32 and a 52 week high of $89.70. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 10.94 and a beta of 0.82.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.89. The company had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. Popular had a net margin of 13.86% and a return on equity of 12.63%. On average, equities research analysts predict that Popular, Inc. will post 8.52 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular's payout ratio is currently 32.93%.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of research analyst reports. StockNews.com raised Popular from a "sell" rating to a "hold" rating in a research note on Wednesday, April 3rd. Royal Bank of Canada lifted their target price on Popular from $80.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods upped their price target on shares of Popular from $95.00 to $103.00 and gave the stock an "outperform" rating in a report on Friday, January 26th. Piper Sandler lifted their price objective on shares of Popular from $96.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, April 9th. Finally, UBS Group upped their target price on shares of Popular from $84.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, January 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $91.63.

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.