Popular, Inc. (NASDAQ:BPOP) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Popular, Inc. (NASDAQ:BPOP) by 28.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,918 shares of the bank’s stock after buying an additional 1,103 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Popular were worth $493,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BPOP. American Century Companies Inc. lifted its position in shares of Popular by 10.3% in the second quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock valued at $107,781,000 after acquiring an additional 113,838 shares in the last quarter. AQR Capital Management LLC boosted its stake in 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 purchasing an additional 164,270 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Popular by 52.2% during the second 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 in the last quarter. Earnest Partners LLC grew its holdings in shares of Popular by 2.1% during the first quarter. Earnest Partners LLC now owns 713,923 shares of the bank’s stock worth $62,889,000 after buying an additional 14,810 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Popular by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 607,253 shares of the bank’s stock valued at $53,699,000 after buying an additional 20,522 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Stock Down 1.7 %

BPOP stock opened at $94.33 on Friday. Popular, Inc. has a 52-week low of $66.72 and a 52-week high of $105.01. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.79. The business has a fifty day moving average of $96.78 and a two-hundred day moving average of $93.65.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.65% and a net margin of 12.36%. The business had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. During the same period in the previous year, the business posted $1.90 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Popular, Inc. will post 8.46 EPS for the current year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.63%. Popular’s dividend payout ratio is currently 33.70%.

Insider Buying and Selling

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now owns 3,332 shares of the company’s stock, valued at $325,569.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Camille Burckhart sold 5,917 shares of the firm’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 value of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the transaction, the vice president now owns 3,332 shares of the company’s stock, valued at $325,569.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,242 shares of company stock valued at $1,102,880. Company insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BPOP. Hovde Group boosted their price target on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada lowered their target price on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price target (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Wells Fargo & Company reduced their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Piper Sandler dropped their target price on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Three equities 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.com, Popular currently has a consensus rating of “Moderate Buy” and an average price target of $104.88.

About Popular

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.