Thrivent Financial for Lutherans Has $7.26 Million Stake in Popular, Inc. (NASDAQ:BPOP)

Thrivent Financial for Lutherans boosted its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 284.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,403 shares of the bank's stock after acquiring an additional 53,590 shares during the quarter. Thrivent Financial for Lutherans owned 0.10% of Popular worth $7,260,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BPOP. Financial Management Professionals Inc. bought a new position in Popular during the third quarter worth about $29,000. Capital Performance Advisors LLP acquired a new stake in shares of Popular in the third quarter valued at approximately $35,000. Mather Group LLC. bought a new position in shares of Popular during the 2nd quarter worth approximately $44,000. Meeder Asset Management Inc. acquired a new position in shares of Popular during the 2nd quarter worth approximately $48,000. Finally, GAMMA Investing LLC raised its stake 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 period. Institutional investors and hedge funds own 87.27% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on BPOP. Royal Bank of Canada reduced 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. Piper Sandler decreased their price target on shares of Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Barclays lowered their price target 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, Wells Fargo & Company reduced their price objective on Popular from $105.00 to $98.00 and set an "equal weight" rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.88.

Insider Activity at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now owns 3,332 shares in the company, valued at $325,569.72. The trade was a 35.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value 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 represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Popular Stock Performance

Shares of NASDAQ BPOP traded up $0.92 during mid-day trading on Friday, reaching $98.96. The company had a trading volume of 760,629 shares, compared to its average volume of 556,473. The business's 50-day simple moving average is $96.52 and its 200 day simple moving average is $94.31. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.77 and a beta of 0.79. Popular, Inc. has a one year low of $71.08 and a one year high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The business's revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 EPS. On average, sell-side analysts anticipate that Popular, Inc. will post 8.46 EPS for the current year.

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $0.70 per share. This is an increase from Popular's previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, December 6th. Popular's dividend payout ratio is currently 33.70%.

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.