Popular, Inc. (NASDAQ:BPOP) Shares Purchased by Fmr LLC

Fmr LLC grew its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 0.1% in the third quarter, Holdings Channel.com reports. The fund owned 3,247,849 shares of the bank’s stock after buying an additional 2,847 shares during the quarter. Fmr LLC’s holdings in Popular were worth $325,662,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its position in shares of Popular by 3.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank’s stock worth $361,000 after purchasing an additional 118 shares during the period. Assetmark Inc. raised its position in Popular by 4.0% during the third quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock valued at $376,000 after buying an additional 143 shares during the period. Pathstone Holdings LLC boosted its position in Popular by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after acquiring an additional 148 shares during the period. GAMMA Investing LLC increased its holdings in shares of Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after purchasing an additional 181 shares during the period. Finally, Wedmont Private Capital lifted its position in shares of Popular by 9.5% in the second quarter. Wedmont Private Capital now owns 2,987 shares of the bank’s stock worth $278,000 after purchasing an additional 258 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Popular

In related news, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the transaction, the executive vice president now directly owns 25,115 shares in the company, valued at approximately $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

BPOP has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada dropped their target price on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays reduced their price target on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Piper Sandler cut their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.88.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $99.36 on Friday. The stock’s 50-day moving average is $96.55 and its 200-day moving average is $94.68. The company has a market cap of $7.09 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.78 and a beta of 0.79. Popular, Inc. has a 52-week low of $72.80 and a 52-week high of $105.01.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The business had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. During the same period last year, the business earned $1.90 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that Popular, Inc. will post 8.46 EPS for the current year.

Popular Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $0.70 per share. This is a boost from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, December 6th. Popular’s dividend payout ratio is presently 33.70%.

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.