Oppenheimer Asset Management Inc. Sells 651 Shares of Popular, Inc. $BPOP

Oppenheimer Asset Management Inc. lessened its position in shares of Popular, Inc. (NASDAQ:BPOP) by 2.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 30,750 shares of the bank’s stock after selling 651 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Popular were worth $3,389,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Steph & Co. acquired a new position in shares of Popular during the second quarter worth $39,000. Farther Finance Advisors LLC grew its stake in Popular by 112.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after buying an additional 221 shares during the last quarter. IFP Advisors Inc grew its stake in Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock worth $53,000 after buying an additional 471 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Popular during the 1st quarter valued at about $47,000. Finally, Quarry LP purchased a new stake in Popular in the first quarter valued at about $84,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Popular

In other news, EVP Gilberto Monzon sold 18,001 shares of the company’s 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 sale, the executive vice president owned 24,773 shares in the company, valued at $3,083,495.31. This represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Hovde Group reaffirmed an “outperform” rating on shares of Popular in a report on Friday, August 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.56.

Popular Trading Down 0.1%

BPOP opened at $112.40 on Wednesday. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $129.32. The firm has a 50 day moving average of $122.96 and a two-hundred day moving average of $112.02. The firm has a market capitalization of $7.60 billion, a PE ratio of 9.95, a P/E/G ratio of 0.48 and a beta of 0.68.

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

Popular Announces Dividend

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