O Shaughnessy Asset Management LLC Has $4.88 Million Position in Popular, Inc. (NASDAQ:BPOP)

O Shaughnessy Asset Management LLC increased its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,367 shares of the bank’s stock after buying an additional 4,463 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Popular were worth $4,877,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BPOP. Raymond James & Associates grew its position in Popular by 1.9% during the fourth quarter. Raymond James & Associates now owns 30,556 shares of the bank’s stock worth $2,508,000 after buying an additional 570 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Popular by 253.3% in the 4th quarter. Ritholtz Wealth Management now owns 18,568 shares of the bank’s stock valued at $1,524,000 after purchasing an additional 13,312 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Popular in the 4th quarter valued at $2,330,000. Nisa Investment Advisors LLC acquired a new stake in shares of Popular in the 4th quarter valued at $1,563,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Popular by 198.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 14,697 shares of the bank’s stock valued at $1,209,000 after purchasing an additional 9,776 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gilberto Monzon sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total transaction of $429,000.00. Following the completion of the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Manuel Chinea sold 12,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total transaction of $1,088,400.00. Following the completion of the transaction, the executive vice president now directly owns 27,086 shares of the company’s stock, valued at approximately $2,456,700.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gilberto Monzon sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at $4,145,856. 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 up $1.76 during mid-day trading on Tuesday, hitting $102.96. 607,090 shares of the stock traded hands, compared to its average volume of 391,472. Popular, Inc. has a twelve month low of $59.27 and a twelve month high of $103.33. The company has a market cap of $7.44 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.82 and a beta of 0.80. The firm has a 50 day simple moving average of $89.20 and a two-hundred day simple moving average of $86.33.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, April 23rd. The bank reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.09). The company had revenue of $714.56 million for the quarter, compared to the consensus estimate of $706.00 million. Popular had a return on equity of 11.67% and a net margin of 11.95%. On average, equities research analysts anticipate that Popular, Inc. will post 8.36 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Thursday, May 30th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, May 30th. Popular’s dividend payout ratio is currently 36.80%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BPOP. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $110.00 target price (up previously from $103.00) on shares of Popular in a report on Wednesday, April 24th. Wells Fargo & Company raised their target price on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Piper Sandler raised their target price on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Hovde Group raised their price objective on Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Popular currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

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.