Persistent Asset Partners Ltd Buys Shares of 6,566 Popular, Inc. $BPOP

Persistent Asset Partners Ltd purchased a new stake in Popular, Inc. (NASDAQ:BPOP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,566 shares of the bank’s stock, valued at approximately $724,000.

Several other institutional investors have also recently made changes to their positions in the company. Steph & Co. acquired a new position in Popular in the second quarter valued at approximately $39,000. Allworth Financial LP raised its position in Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after purchasing an additional 367 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock valued at $46,000 after purchasing an additional 221 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of 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 purchasing an additional 471 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Popular during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Gilberto Monzon sold 18,001 shares of Popular stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the transaction, the executive vice president owned 24,773 shares in the company, valued at $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is currently owned by company insiders.

Popular Trading Down 0.2%

Popular stock opened at $115.44 on Friday. The firm has a market capitalization of $7.70 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.47 and a beta of 0.72. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $129.32. The stock’s fifty day simple moving average is $120.23 and its 200-day simple moving average is $114.22.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 $720.83 million during the quarter, compared to analyst estimates of $803.95 million. During the same period last year, the business posted $2.16 earnings per share. Popular’s revenue was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently announced a sep 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.1328 per share. Popular’s payout ratio is 26.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BPOP shares. UBS Group decreased their target price on shares of Popular from $135.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Truist Financial began coverage on shares of Popular in a report on Thursday, October 9th. They issued a “buy” rating and a $153.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a report on Wednesday, October 8th. Wells Fargo & Company cut their target price on Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Finally, Hovde Group restated an “outperform” rating on shares of Popular in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $133.56.

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.