Perpetual Ltd Boosts Stock Position in Popular, Inc. (NASDAQ:BPOP)

Perpetual Ltd grew its stake in Popular, Inc. (NASDAQ:BPOP) by 5.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,237 shares of the bank’s stock after purchasing an additional 5,900 shares during the period. Perpetual Ltd owned approximately 0.16% of Popular worth $9,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. CWM LLC grew its position in Popular by 164.8% in the first quarter. CWM LLC now owns 1,769 shares of the bank’s stock worth $156,000 after acquiring an additional 1,101 shares during the period. Quadrature Capital Ltd purchased a new position in Popular in the fourth quarter worth approximately $289,000. Wellington Management Group LLP grew its position in Popular by 6.0% in the fourth quarter. Wellington Management Group LLP now owns 3,816,736 shares of the bank’s stock worth $313,240,000 after acquiring an additional 216,855 shares during the period. Covenant Partners LLC purchased a new position in Popular in the fourth quarter worth approximately $221,000. Finally, Clear Street Markets LLC purchased a new position in Popular in the fourth quarter worth approximately $139,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Trading Up 0.3 %

Shares of NASDAQ BPOP opened at $85.07 on Friday. The stock has a market cap of $6.15 billion, a P/E ratio of 12.62, a PEG ratio of 0.80 and a beta of 0.79. Popular, Inc. has a 12-month low of $58.00 and a 12-month high of $93.09. The business’s fifty day simple moving average is $87.20 and its 200-day simple moving average is $84.52.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.09). Popular had a net margin of 11.95% and a return on equity of 11.67%. The company had revenue of $714.56 million during the quarter, compared to analyst estimates of $706.00 million. On average, equities analysts forecast that Popular, Inc. will post 8.31 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Thursday, May 30th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, May 30th. Popular’s dividend payout ratio is presently 36.80%.

Insider Buying and Selling at Popular

In other Popular news, EVP Manuel Chinea sold 12,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the sale, the executive vice president now directly owns 27,086 shares in the company, valued at $2,456,700.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Popular news, EVP Manuel Chinea sold 12,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the sale, the executive vice president now directly owns 27,086 shares in the company, valued at $2,456,700.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gilberto Monzon sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $85.80, for a total value of $429,000.00. Following the completion of the sale, the executive vice president now owns 48,320 shares in the company, valued at $4,145,856. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BPOP. Wells Fargo & Company increased their price objective on Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Citigroup upped their price target on Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Piper Sandler upped their price target on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $110.00 price target (up from $103.00) on shares of Popular in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.89.

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.