Foster & Motley Inc. Takes Position in Popular, Inc. $BPOP

Foster & Motley Inc. purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,751 shares of the bank’s stock, valued at approximately $780,000.

Other hedge funds have also recently modified their holdings of the company. Acumen Wealth Advisors LLC acquired a new position in Popular in the 4th quarter valued at $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Popular in the 4th quarter worth $28,000. Parallel Advisors LLC boosted its holdings in shares of Popular by 70.8% in the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after acquiring an additional 102 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Popular in the third quarter valued at about $31,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Popular during the fourth quarter worth about $50,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Lidio Soriano sold 3,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $174.50, for a total value of $523,500.00. Following the sale, the executive vice president directly owned 107,320 shares in the company, valued at $18,727,340. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alejandro M. Sanchez sold 300 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the transaction, the director directly owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 53,261 shares of company stock valued at $9,336,093. 2.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

BPOP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Barclays upped their price objective on Popular from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Wells Fargo & Company raised their target price on Popular from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, August 10th. UBS Group boosted their target price on shares of Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Truist Financial upped their price target on shares of Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Popular presently has an average rating of “Buy” and a consensus price target of $186.92.

Popular Stock Down 2.9%

Shares of BPOP stock opened at $170.57 on Thursday. The stock has a market cap of $10.88 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.67 and a beta of 0.61. Popular, Inc. has a fifty-two week low of $108.74 and a fifty-two week high of $179.24. The business has a fifty day simple moving average of $169.63 and a 200-day simple moving average of $152.16.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping the consensus estimate of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.34%. The business had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. During the same period in the previous year, the firm earned $3.09 EPS. On average, sell-side analysts anticipate that Popular, Inc. will post 15.72 earnings per share for the current year.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.