Ensign Peak Advisors Inc Increases Stake in Popular, Inc. (NASDAQ:BPOP)

Ensign Peak Advisors Inc lifted its position in Popular, Inc. (NASDAQ:BPOP) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,606 shares of the bank’s stock after acquiring an additional 2,355 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Popular were worth $3,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BPOP. Headlands Technologies LLC bought a new stake in Popular in the first quarter worth about $42,000. Mather Group LLC. bought a new stake in shares of Popular during the 2nd quarter worth approximately $44,000. Meeder Asset Management Inc. purchased a new position in Popular during the 2nd quarter valued at $48,000. GAMMA Investing LLC grew its position in Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after acquiring an additional 181 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new stake in Popular in the fourth quarter worth $139,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the transaction, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on BPOP shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Hovde Group lifted their price target on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler initiated coverage on Popular in a research note on Monday, August 26th. They issued an “overweight” rating and a $112.00 price objective on the stock. Finally, Barclays lifted their target price on Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Popular Trading Up 1.4 %

Shares of NASDAQ:BPOP opened at $99.55 on Friday. The company has a market capitalization of $7.20 billion, a PE ratio of 14.77, a P/E/G ratio of 0.68 and a beta of 0.78. Popular, Inc. has a 12-month low of $59.27 and a 12-month high of $105.01. The business’s fifty day simple moving average is $98.85 and its 200-day simple moving average is $91.32.

Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same period in the previous year, the company posted $2.10 earnings per share. Research analysts predict that Popular, Inc. will post 8.86 EPS for the current year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.49%. Popular’s payout ratio is 36.80%.

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.