Sequoia Financial Advisors LLC Has $534,000 Holdings in Popular, Inc. (NASDAQ:BPOP)

Sequoia Financial Advisors LLC grew its holdings in Popular, Inc. (NASDAQ:BPOP) by 8.4% during the third quarter, Holdings Channel.com reports. The firm owned 5,298 shares of the bank’s stock after buying an additional 410 shares during the period. Sequoia Financial Advisors LLC’s holdings in Popular were worth $534,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BPOP. American Century Companies Inc. raised its stake in Popular by 10.3% during the second quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock worth $107,781,000 after acquiring an additional 113,838 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Popular by 23.6% during the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock worth $75,129,000 after buying an additional 164,270 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Popular by 52.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock worth $73,867,000 after buying an additional 286,450 shares during the last quarter. Earnest Partners LLC increased its position in Popular by 2.1% during the first quarter. Earnest Partners LLC now owns 713,923 shares of the bank’s stock worth $62,889,000 after acquiring an additional 14,810 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Popular by 1.4% in the 1st quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock valued at $62,402,000 after purchasing an additional 9,985 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Popular Price Performance

Shares of BPOP opened at $88.46 on Friday. The business’s 50 day simple moving average is $98.34 and its 200-day simple moving average is $93.10. Popular, Inc. has a 1 year low of $61.99 and a 1 year high of $105.01. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.73% and a net margin of 12.20%. The business had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. During the same quarter in the previous year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Popular, Inc. will post 8.74 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 36.80%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price objective (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler dropped their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.88.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares in the company, valued at $2,920,387.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.09% of the stock is currently owned by company insiders.

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.