Popular, Inc. (NASDAQ:BPOP) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Popular, Inc. (NASDAQ:BPOP) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,654 shares of the bank’s stock after selling 15,841 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Popular were worth $19,718,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BPOP. GAMMA Investing LLC grew its stake in shares of Popular by 16.8% during the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after acquiring an additional 181 shares in the last quarter. Mather Group LLC. acquired a new stake in Popular during the 2nd quarter valued at approximately $44,000. CWM LLC increased its holdings in Popular by 43.7% during the 2nd quarter. CWM LLC now owns 2,542 shares of the bank’s stock worth $225,000 after purchasing an additional 773 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Popular during the 2nd quarter worth approximately $1,268,000. Finally, Perkins Coie Trust Co acquired a new position in shares of Popular in the 2nd quarter valued at approximately $177,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday. Barclays upped their target price on shares of Popular from $104.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada decreased their price target on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Piper Sandler cut their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Popular Stock Up 0.0 %

BPOP stock opened at $99.86 on Friday. The stock has a market cap of $7.12 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.77 and a beta of 0.81. The firm’s 50-day simple moving average is $96.51 and its 200 day simple moving average is $94.85. Popular, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.01.

Popular (NASDAQ:BPOP) last released its quarterly 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 net margin of 12.36% and a return on equity of 11.35%. The business had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. During the same period last year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, December 6th. This is a positive change from Popular’s previous quarterly dividend of $0.62. Popular’s payout ratio is 33.70%.

Insider Transactions at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the sale, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

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.