Popular, Inc. $BPOP Shares Purchased by Burney Co.

Burney Co. grew its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 14.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,720 shares of the bank’s stock after acquiring an additional 2,658 shares during the quarter. Burney Co.’s holdings in Popular were worth $2,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BPOP. Envestnet Asset Management Inc. increased its holdings in shares of Popular by 10.5% during the first quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank’s stock valued at $8,046,000 after acquiring an additional 8,262 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Popular in the first quarter valued at approximately $7,905,000. Alps Advisors Inc. purchased a new stake in Popular in the first quarter valued at approximately $367,000. Cerity Partners LLC boosted its position in Popular by 164.7% in the first quarter. Cerity Partners LLC now owns 15,731 shares of the bank’s stock valued at $1,453,000 after buying an additional 9,788 shares during the last quarter. Finally, Xponance Inc. boosted its position in Popular by 17.1% in the first quarter. Xponance Inc. now owns 4,395 shares of the bank’s stock valued at $406,000 after buying an additional 641 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Price Performance

Shares of NASDAQ BPOP opened at $112.30 on Tuesday. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.47 and a beta of 0.68. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $129.32. The firm’s 50 day simple moving average is $122.16 and its 200-day simple moving average is $112.98.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.10. The business had revenue of $817.70 million for the quarter, compared to analysts’ expectations of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.46%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $2.16 EPS. Analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.1328 dividend. Popular’s dividend payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

BPOP has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Zacks Research lowered Popular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. UBS Group dropped their target price on Popular from $135.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Hovde Group reiterated an “outperform” rating on shares of Popular in a research report on Friday, August 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.56.

Insider Buying and Selling

In related news, EVP Gilberto Monzon sold 18,001 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the transaction, the executive vice president directly owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. This represents a 42.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.09% of the company’s stock.

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.