Loomis Sayles & Co. L P trimmed its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 204,899 shares of the bank's stock after selling 6,083 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.28% of Popular worth $20,545,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BPOP. Financial Management Professionals Inc. bought a new position in shares of Popular in the third quarter worth about $29,000. Capital Performance Advisors LLP purchased a new stake in Popular in the 3rd quarter worth approximately $35,000. Mather Group LLC. bought a new stake in Popular during the 2nd quarter worth approximately $44,000. Meeder Asset Management Inc. purchased a new position in Popular during the second quarter valued at approximately $48,000. Finally, GAMMA Investing LLC boosted its position in shares of Popular by 16.8% in the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank's stock worth $111,000 after purchasing an additional 181 shares during the period. 87.27% of the stock is owned by hedge funds and other institutional investors.
Popular Trading Down 1.0 %
Shares of NASDAQ:BPOP opened at $100.78 on Wednesday. The company has a 50-day moving average price of $96.62 and a 200 day moving average price of $94.53. Popular, Inc. has a 12 month low of $71.08 and a 12 month high of $105.01. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.80 and a beta of 0.79.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). The company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.35%. Popular's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. As a group, equities analysts forecast that Popular, Inc. will post 8.46 EPS for the current year.
Popular Increases Dividend
The company also recently disclosed 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 is a boost from Popular's previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a yield of 2.78%. Popular's payout ratio is 33.70%.
Analyst Ratings Changes
Several brokerages have recently commented on BPOP. Royal Bank of Canada decreased their price objective on shares of Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Piper Sandler decreased their price target on Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company dropped their price objective on Popular from $105.00 to $98.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Finally, Barclays decreased their target price on Popular from $117.00 to $104.00 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.88.
Get Our Latest Stock Report on BPOP
Insider Activity
In related news, EVP Beatriz Castellvi sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares of the company's stock, valued at approximately $2,490,403.40. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the company's stock in a transaction 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 transaction, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. This trade represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.
Popular Profile
(
Free Report)
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.
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