Mitsubishi UFJ Trust & Banking Corp Has $7.90 Million Stock Position in Popular, Inc. $BPOP

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 36.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,694 shares of the bank’s stock after acquiring an additional 19,129 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Popular worth $7,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of Popular by 10.5% during the first quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank’s stock worth $8,046,000 after purchasing an additional 8,262 shares during the period. Cerity Partners LLC increased its stake in Popular by 164.7% in the 1st quarter. Cerity Partners LLC now owns 15,731 shares of the bank’s stock valued at $1,453,000 after buying an additional 9,788 shares during the period. Acadian Asset Management LLC increased its stake in Popular by 47.3% in the 2nd quarter. Acadian Asset Management LLC now owns 188,960 shares of the bank’s stock valued at $20,818,000 after buying an additional 60,701 shares during the period. Inspire Investing LLC purchased a new stake in Popular in the 2nd quarter worth approximately $905,000. Finally, HB Wealth Management LLC acquired a new stake in shares of Popular during the 2nd quarter valued at $224,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Zacks Research raised Popular from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on Popular from $125.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Hovde Group reaffirmed an “outperform” rating on shares of Popular in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $133.56.

Insider Buying and Selling at Popular

In other news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 24,773 shares in the company, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.09% of the company’s stock.

Popular Price Performance

Shares of NASDAQ:BPOP opened at $115.44 on Monday. The stock 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. The business has a 50-day moving average of $120.23 and a two-hundred day moving average of $114.35. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $129.32.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data 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 period last year, the business earned $2.16 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. As a group, research analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.6%. 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.