Ritholtz Wealth Management Decreases Holdings in Popular, Inc. (NASDAQ:BPOP)

Ritholtz Wealth Management decreased its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,286 shares of the bank's stock after selling 3,127 shares during the quarter. Ritholtz Wealth Management's holdings in Popular were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedmont Private Capital grew its holdings in shares of Popular by 15.4% in the fourth quarter. Wedmont Private Capital now owns 3,430 shares of the bank's stock worth $317,000 after purchasing an additional 458 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Popular by 1.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 74,723 shares of the bank's stock worth $7,028,000 after acquiring an additional 948 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after acquiring an additional 71,782 shares during the period. Franklin Resources Inc. raised its stake in shares of Popular by 304.3% during the third quarter. Franklin Resources Inc. now owns 99,861 shares of the bank's stock valued at $10,042,000 after acquiring an additional 75,164 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Popular during the third quarter valued at about $1,635,000. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Up 0.9 %

Shares of BPOP stock traded up $0.93 during mid-day trading on Friday, reaching $99.64. 452,885 shares of the company's stock traded hands, compared to its average volume of 407,504. The company's 50-day moving average price is $96.36 and its 200-day moving average price is $96.75. The company has a market cap of $7.11 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.60 and a beta of 0.81. Popular, Inc. has a 12 month low of $79.50 and a 12 month high of $105.01.

Popular (NASDAQ:BPOP - Get Free Report) last released its 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). Popular had a net margin of 12.36% and a return on equity of 11.35%. The business had revenue of $736.56 million for the quarter, compared to analysts' expectations of $766.62 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. Popular's revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts predict that Popular, Inc. will post 8.41 earnings per share for the current year.

Popular Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.81%. This is an increase from Popular's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 6th. Popular's payout ratio is 38.04%.

Wall Street Analyst Weigh In

BPOP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on Popular from $103.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on Popular from $90.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Piper Sandler dropped their price target on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Barclays boosted their price objective on shares of Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada dropped their target price 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.25.

Insider Transactions at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the sale, the vice president now owns 3,332 shares of the company's stock, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now directly owns 25,115 shares in the company, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

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.