International Assets Investment Management LLC Makes New $1.47 Million Investment in Popular, Inc. (NASDAQ:BPOP)

International Assets Investment Management LLC purchased a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,639 shares of the bank's stock, valued at approximately $1,468,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its position in shares of Popular by 3.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank's stock worth $361,000 after purchasing an additional 118 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Popular by 16.8% during 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 in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Popular by 7.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,040 shares of the bank's stock worth $268,000 after purchasing an additional 208 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Popular by 9.5% during the second quarter. Wedmont Private Capital now owns 2,987 shares of the bank's stock worth $278,000 after purchasing an additional 258 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Popular by 8.6% during the third quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank's stock worth $388,000 after purchasing an additional 307 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Popular

In related news, EVP Camille Burckhart sold 5,917 shares of the firm's 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 completion of the transaction, the executive vice president now owns 29,922 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 2.09% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price 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, October 24th. Piper Sandler reduced their target price on shares of Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $120.00 target price (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Barclays dropped their price target on shares of Popular from $117.00 to $104.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Finally, Hovde Group boosted their price target on shares of Popular from $113.00 to $123.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat, Popular has a consensus rating of "Moderate Buy" and a consensus target price of $104.88.

Popular Price Performance

BPOP traded down $0.32 during mid-day trading on Monday, hitting $89.16. The stock had a trading volume of 510,930 shares, compared to its average volume of 416,614. The stock's fifty day simple moving average is $97.51 and its 200-day simple moving average is $93.44. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.62 and a beta of 0.79. Popular, Inc. has a 1-year low of $66.72 and a 1-year high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.17). The firm had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. Popular had a return on equity of 11.65% and a net margin of 12.36%. The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. As a group, research analysts expect that Popular, Inc. will post 8.51 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.78%. Popular's payout ratio is 33.70%.

Popular Company 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.