Cwm LLC Raises Position in Popular, Inc. (NASDAQ:BPOP)

Cwm LLC increased its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 98.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,036 shares of the bank’s stock after buying an additional 2,494 shares during the quarter. Cwm LLC’s holdings in Popular were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Popular during the first quarter worth about $42,000. Mather Group LLC. purchased a new stake in Popular during the 2nd quarter worth approximately $44,000. Meeder Asset Management Inc. acquired a new position in Popular during the 2nd quarter valued at approximately $48,000. GAMMA Investing LLC raised its holdings in shares of Popular by 16.8% in the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after buying an additional 181 shares during the last quarter. Finally, Perkins Coie Trust Co acquired a new stake in shares of Popular during the second quarter worth $177,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the transaction, the executive vice president now directly owns 29,922 shares in the company, valued at $2,920,387.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.09% of the stock is owned by insiders.

Popular Price Performance

Shares of Popular stock opened at $100.82 on Friday. The business has a 50 day simple moving average of $98.69 and a two-hundred day simple moving average of $92.85. The stock has a market capitalization of $7.29 billion, a P/E ratio of 14.96, a PEG ratio of 0.66 and a beta of 0.78. Popular, Inc. has a 12 month low of $59.27 and a 12 month high of $105.01.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. Popular had a return on equity of 11.73% and a net margin of 12.20%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. During the same quarter last year, the firm posted $2.10 EPS. As a group, research analysts anticipate that Popular, Inc. will post 8.74 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 2.46%. Popular’s dividend payout ratio is presently 36.80%.

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of research analyst reports. Hovde Group raised their target price on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company cut Popular from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $115.00 to $105.00 in a research note on Tuesday, October 1st. Barclays increased 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. Royal Bank of Canada lifted their price objective on shares of Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.38.

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.