Amalgamated Bank Has $391,000 Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Amalgamated Bank trimmed its position in Popular, Inc. (NASDAQ:BPOP) by 69.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,895 shares of the bank’s stock after selling 8,759 shares during the period. Amalgamated Bank’s holdings in Popular were worth $391,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its stake in shares of Popular by 9.8% in the 3rd quarter. QRG Capital Management Inc. now owns 4,535 shares of the bank’s stock valued at $455,000 after purchasing an additional 405 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in Popular in the third quarter valued at approximately $421,000. Emerald Advisers LLC boosted its stake in Popular by 30.3% in the third quarter. Emerald Advisers LLC now owns 164,982 shares of the bank’s stock valued at $16,543,000 after acquiring an additional 38,409 shares during the last quarter. Van ECK Associates Corp boosted its stake in Popular by 40.0% in the third quarter. Van ECK Associates Corp now owns 40,870 shares of the bank’s stock valued at $4,098,000 after acquiring an additional 11,678 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Popular by 124.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 73,775 shares of the bank’s stock worth $7,397,000 after acquiring an additional 40,930 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Down 0.2 %

Shares of NASDAQ:BPOP opened at $96.09 on Monday. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.75 and a beta of 0.79. The company’s fifty day simple moving average is $96.52 and its 200 day simple moving average is $94.05. Popular, Inc. has a 12 month low of $71.08 and a 12 month high of $105.01.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share 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 company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter in the prior year, the business earned $1.90 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts expect that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, September 13th. Popular’s dividend payout ratio is currently 33.70%.

Insider Buying and Selling at Popular

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 11,242 shares of company stock valued at $1,102,880 in the last quarter. Company insiders own 2.09% of the company’s stock.

Analysts Set New Price Targets

BPOP has been the topic of a number of analyst reports. Barclays cut their price target on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 target price (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Hovde Group boosted their target price on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler cut their price target 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. Finally, Royal Bank of Canada decreased their price objective on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.88.

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.