NBC Securities Inc. Boosts Position in Popular, Inc. (NASDAQ:BPOP)

NBC Securities Inc. lifted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 132,933.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,991 shares of the bank’s stock after acquiring an additional 3,988 shares during the period. NBC Securities Inc.’s holdings in Popular were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BPOP. Proficio Capital Partners LLC purchased a new position in shares of Popular during the 4th quarter worth $27,000. Picton Mahoney Asset Management raised its holdings in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after acquiring an additional 218 shares during the period. Versant Capital Management Inc raised its holdings in shares of Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock worth $76,000 after acquiring an additional 702 shares during the period. Finally, Yousif Capital Management LLC purchased a new position in shares of Popular during the 4th quarter worth $202,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BPOP. Piper Sandler raised their price objective on Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods raised their price objective on Popular from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Hovde Group cut their price objective on Popular from $118.00 to $114.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Wall Street Zen downgraded Popular from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Barclays reaffirmed an “overweight” rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Popular has an average rating of “Moderate Buy” and an average target price of $114.43.

Insider Activity

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the completion of the sale, the vice president now owns 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% 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, EVP Camille Burckhart sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the sale, the executive vice president now owns 27,382 shares of the company’s stock, valued at approximately $2,851,561.48. The trade was a 20.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Popular Price Performance

NASDAQ BPOP opened at $105.75 on Friday. The company has a market cap of $7.25 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.75 and a beta of 0.60. The stock has a 50-day moving average of $95.54 and a two-hundred day moving average of $96.59. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $106.81.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.30. The business had revenue of $755.46 million during the quarter, compared to analysts’ expectations of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. On average, analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, May 29th. Popular’s payout ratio is presently 28.90%.

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.