3,047 Shares in Popular, Inc. $BPOP Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd bought a new position in Popular, Inc. (NASDAQ:BPOP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,047 shares of the bank’s stock, valued at approximately $336,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steph & Co. purchased a new stake in shares of Popular in the second quarter worth about $39,000. Allworth Financial LP grew its stake in Popular by 2,158.8% during the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after acquiring an additional 367 shares in the last quarter. Farther Finance Advisors LLC increased its holdings 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 acquiring an additional 221 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Popular during the 1st quarter worth approximately $47,000. Finally, IFP Advisors Inc lifted its stake in Popular by 3,925.0% in the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock worth $53,000 after purchasing an additional 471 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

Insider Activity at Popular

In related news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $3,083,495.31. The trade was a 42.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard L. Carrion sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the completion of the sale, the director directly owned 193,020 shares of the company’s stock, valued at approximately $21,907,770. This represents a 11.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 44,001 shares of company stock valued at $5,192,924. Corporate insiders own 2.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on BPOP shares. Truist Financial assumed coverage on shares of Popular in a research report on Thursday, October 9th. They set a “buy” rating and a $153.00 price target for the company. Zacks Research raised Popular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Hovde Group restated an “outperform” rating on shares of Popular in a research report on Friday, August 29th. Wells Fargo & Company decreased their target price on Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Finally, UBS Group lowered their price target on Popular from $135.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $133.56.

Popular Stock Performance

NASDAQ BPOP opened at $114.76 on Friday. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $129.32. The company has a fifty day moving average of $117.89 and a 200-day moving average of $115.18. The company has a market capitalization of $7.65 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.47 and a beta of 0.72.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share 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 business had revenue of $720.83 million for the quarter, compared to the consensus estimate of $803.95 million. During the same quarter last year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th. Popular’s dividend payout ratio (DPR) is currently 26.55%.

Popular Company 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.