Ritholtz Wealth Management Has $7.57 Million Stake in Popular, Inc. $BPOP

Ritholtz Wealth Management boosted its stake in Popular, Inc. (NASDAQ:BPOP) by 22.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,390 shares of the bank’s stock after acquiring an additional 10,512 shares during the quarter. Ritholtz Wealth Management’s holdings in Popular were worth $7,566,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Xponance LLC boosted its stake in Popular by 2.1% in the 4th quarter. Xponance LLC now owns 3,892 shares of the bank’s stock worth $485,000 after purchasing an additional 80 shares during the period. Parallel Advisors LLC raised its stake in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after purchasing an additional 102 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Popular by 0.8% in the fourth quarter. Cetera Investment Advisers now owns 14,647 shares of the bank’s stock valued at $1,824,000 after purchasing an additional 111 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Popular by 1.3% in the second quarter. Nebula Research & Development LLC now owns 9,579 shares of the bank’s stock valued at $1,056,000 after purchasing an additional 119 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Popular by 24.8% during the fourth quarter. Quarry LP now owns 674 shares of the bank’s stock worth $84,000 after buying an additional 134 shares during the period. 87.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of research reports. UBS Group increased their price objective on Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Piper Sandler restated an “overweight” rating on shares of Popular in a research note on Monday. Wells Fargo & Company upped their price target on Popular from $135.00 to $163.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Weiss Ratings upgraded shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $168.73.

Popular Price Performance

Popular stock opened at $165.65 on Thursday. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 0.82 and a beta of 0.62. The firm has a 50-day moving average of $151.28 and a 200-day moving average of $139.07. Popular, Inc. has a one year low of $107.41 and a one year high of $167.04.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.48. Popular had a return on equity of 14.53% and a net margin of 20.10%.The business had revenue of $816.08 million for the quarter, compared to the consensus estimate of $866.54 million. During the same quarter in the previous year, the business earned $2.56 earnings per share. As a group, sell-side analysts expect that Popular, Inc. will post 15.14 earnings per share for the current year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, May 29th. Popular’s dividend payout ratio (DPR) is currently 22.16%.

Insider Buying and Selling at Popular

In other Popular news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $148.51, for a total transaction of $920,762.00. Following the transaction, the executive vice president owned 11,255 shares of the company’s stock, valued at $1,671,480.05. The trade was a 35.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alejandro M. Sanchez sold 300 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $150.36, for a total value of $45,108.00. Following the sale, the director owned 3,960 shares in the company, valued at approximately $595,425.60. This represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,500 shares of company stock worth $4,415,870 over the last ninety days. 2.13% of the stock is currently owned by corporate insiders.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.