Assenagon Asset Management S.A. increased its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 171.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,441 shares of the bank's stock after acquiring an additional 49,533 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of Popular worth $7,865,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of BPOP. Headlands Technologies LLC purchased a new stake in Popular in the first quarter valued at $42,000. Mather Group LLC. acquired a new position in shares of Popular during the 2nd quarter worth about $44,000. Meeder Asset Management Inc. acquired a new stake in Popular in the 2nd quarter valued at about $48,000. GAMMA Investing LLC raised its holdings 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, Perkins Coie Trust Co acquired a new stake in shares of Popular during the 2nd quarter worth approximately $177,000. Hedge funds and other institutional investors own 87.27% of the company's stock.
Popular Trading Down 0.9 %
NASDAQ BPOP traded down $0.78 on Tuesday, hitting $89.41. 538,015 shares of the company were exchanged, compared to its average volume of 414,987. The firm has a 50 day moving average of $98.16 and a two-hundred day moving average of $93.21. The company has a market cap of $6.46 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.66 and a beta of 0.78. Popular, Inc. has a 1-year low of $64.35 and a 1-year high of $105.01.
Popular (NASDAQ:BPOP - Get Free Report) last announced 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 12.20% and a return on equity of 11.73%. The company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same period in the previous year, the firm posted $1.90 EPS. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Popular, Inc. will post 8.74 EPS for the current fiscal year.
Popular Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.77%. Popular's dividend payout ratio is 36.80%.
Wall Street Analysts Forecast Growth
BPOP has been the subject of a number of research analyst reports. Hovde Group increased 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 lowered their target price on shares of Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $120.00 target price (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Barclays decreased their price objective on shares of Popular from $117.00 to $104.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada cut their price objective on shares of Popular from $108.00 to $96.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.88.
Get Our Latest Report on Popular
Insider Buying and Selling
In other Popular news, EVP Camille Burckhart sold 5,917 shares of the company'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 sale, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.09% of the stock is owned by corporate insiders.
About Popular
(
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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