Popular, Inc. (NASDAQ:BPOP) Shares Bought by Perkins Coie Trust Co

Perkins Coie Trust Co raised its holdings in Popular, Inc. (NASDAQ:BPOP) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the bank’s stock after acquiring an additional 1,000 shares during the period. Perkins Coie Trust Co’s holdings in Popular were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BPOP. Principal Financial Group Inc. raised its holdings in Popular by 57.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,008,732 shares of the bank’s stock valued at $88,859,000 after acquiring an additional 366,870 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Popular by 52.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock worth $73,867,000 after buying an additional 286,450 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Popular during the 1st quarter worth approximately $19,997,000. Wellington Management Group LLP increased its holdings in shares of Popular by 6.0% during the 4th quarter. Wellington Management Group LLP now owns 3,816,736 shares of the bank’s stock worth $313,240,000 after buying an additional 216,855 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Popular by 23.6% during the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock worth $75,129,000 after buying an additional 164,270 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BPOP shares. Royal Bank of Canada raised their price target on shares of Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler started coverage on shares of Popular in a report on Monday, August 26th. They set an “overweight” rating and a $112.00 price target for the company. Wells Fargo & Company downgraded shares of Popular from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $115.00 to $105.00 in a report on Tuesday, October 1st. Barclays raised their price target on shares of Popular from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 target price (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Transactions at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction 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 completion of the sale, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.09% of the company’s stock.

Popular Stock Up 0.7 %

BPOP stock traded up $0.70 during midday trading on Wednesday, hitting $96.72. The company’s stock had a trading volume of 61,320 shares, compared to its average volume of 397,135. Popular, Inc. has a 52-week low of $59.27 and a 52-week high of $105.01. The firm has a market capitalization of $6.99 billion, a P/E ratio of 14.25, a PEG ratio of 0.68 and a beta of 0.78. The firm has a 50-day simple moving average of $98.04 and a 200-day simple moving average of $92.15.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.08 by $0.38. Popular had a net margin of 12.20% and a return on equity of 11.73%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $751.57 million. During the same quarter last year, the company posted $2.10 EPS. On average, sell-side analysts expect that Popular, Inc. will post 8.86 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.56%. Popular’s dividend payout ratio (DPR) is currently 36.80%.

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.