6,467 Shares in Popular, Inc. $BPOP Bought by Brighton Jones LLC

Brighton Jones LLC bought a new position in Popular, Inc. (NASDAQ:BPOP) during the second quarter, according to its most recent filing with the SEC. The firm bought 6,467 shares of the bank’s stock, valued at approximately $713,000.

A number of other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its holdings in shares of Popular by 4.2% in the 1st quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank’s stock worth $263,000 after purchasing an additional 116 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Popular by 6.2% in the 2nd quarter. Forum Financial Management LP now owns 2,671 shares of the bank’s stock worth $294,000 after purchasing an additional 157 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Popular by 3.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,376 shares of the bank’s stock worth $592,000 after purchasing an additional 158 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Popular by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,660 shares of the bank’s stock worth $5,788,000 after purchasing an additional 185 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Popular by 3.4% during the 1st quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank’s stock valued at $543,000 after acquiring an additional 191 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Gilberto Monzon sold 18,001 shares of Popular stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. This trade represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.23% of the company’s stock.

Wall Street Analysts Forecast Growth

BPOP has been the subject of several analyst reports. Hovde Group reiterated an “outperform” rating on shares of Popular in a report on Friday, August 29th. Citigroup increased their target price on shares of Popular from $133.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Truist Financial started coverage on shares of Popular in a report on Thursday, October 9th. They issued a “buy” rating and a $153.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and an average target price of $133.56.

Popular Price Performance

Shares of Popular stock opened at $112.40 on Wednesday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32. The firm has a market cap of $7.60 billion, a PE ratio of 9.95, a P/E/G ratio of 0.48 and a beta of 0.68. The stock has a fifty day moving average price of $122.96 and a 200-day moving average price of $112.02.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.10. Popular had a return on equity of 13.46% and a net margin of 17.63%.The firm had revenue of $817.70 million during the quarter, compared to analyst estimates of $803.95 million. During the same period last year, the firm posted $2.16 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.1328 dividend. Popular’s dividend payout ratio (DPR) is currently 26.55%.

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.