Sanctuary Advisors LLC Takes $569,000 Position in Popular, Inc. (NASDAQ:BPOP)

Sanctuary Advisors LLC bought a new position in Popular, Inc. (NASDAQ:BPOP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,575 shares of the bank's stock, valued at approximately $569,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. Wellington Management Group LLP grew its stake in Popular by 6.0% during the fourth quarter. Wellington Management Group LLP now owns 3,816,736 shares of the bank's stock worth $313,240,000 after buying an additional 216,855 shares during the last quarter. American Century Companies Inc. grew 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 buying an additional 113,838 shares during the last quarter. Principal Financial Group Inc. grew its stake in Popular by 57.2% during the first quarter. Principal Financial Group Inc. now owns 1,008,732 shares of the bank's stock worth $88,859,000 after buying an additional 366,870 shares during the last quarter. AQR Capital Management LLC grew its stake in Popular by 23.6% during the second 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. Finally, Massachusetts Financial Services Co. MA grew its stake in Popular by 52.2% during the second 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. 87.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Popular Price Performance

BPOP traded down $0.76 during mid-day trading on Wednesday, hitting $101.25. The stock had a trading volume of 669,471 shares, compared to its average volume of 400,020. The stock's fifty day simple moving average is $98.29 and its 200-day simple moving average is $92.58. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. Popular, Inc. has a 1-year low of $59.27 and a 1-year high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.38. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same period last year, the business posted $2.10 earnings per share. As a group, research analysts expect that Popular, Inc. will post 8.74 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 2.45%. Popular's dividend payout ratio (DPR) is presently 36.80%.

Analyst Ratings Changes

Several analysts have recently commented on BPOP shares. Piper Sandler started coverage on shares of Popular in a research note on Monday, August 26th. They set an "overweight" rating and a $112.00 price target on the stock. Wells Fargo & Company cut shares of Popular from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $115.00 to $105.00 in a research note on Tuesday, October 1st. Barclays increased their price target on shares of Popular from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Royal Bank of Canada increased their price target on shares of Popular from $90.00 to $108.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Finally, Hovde Group increased 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.38.

Popular 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.