Harbor Capital Advisors Inc. Has $7.03 Million Holdings in Popular, Inc. (NASDAQ:BPOP)

Harbor Capital Advisors Inc. grew its position in shares of Popular, Inc. (NASDAQ:BPOP) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,723 shares of the bank’s stock after acquiring an additional 948 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.10% of Popular worth $7,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in Popular during the 3rd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new position in shares of Popular during the third quarter valued at about $35,000. Brooklyn Investment Group bought a new stake in shares of Popular during the third quarter worth about $47,000. Meeder Asset Management Inc. acquired a new stake in shares of Popular in the 2nd quarter worth about $48,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Popular in the 3rd quarter valued at about $81,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the sale, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction that occurred 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 sale, the executive vice president now 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 disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Popular Trading Down 3.0 %

Shares of BPOP traded down $2.82 during mid-day trading on Friday, reaching $91.86. 98,964 shares of the stock traded hands, compared to its average volume of 355,263. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. Popular, Inc. has a 1 year low of $79.01 and a 1 year high of $105.01. The firm has a fifty day moving average price of $95.89 and a 200 day moving average price of $96.22.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $766.62 million. During the same period in the previous year, the business earned $1.90 EPS. The business’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Popular, Inc. will post 8.46 EPS for the current year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $0.70 dividend. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.05%. Popular’s dividend payout ratio is presently 38.04%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays boosted their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company raised their price objective on Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price target on shares of Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada cut their price objective on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Piper Sandler decreased their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.25.

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.