Summit Global Investments Purchases New Holdings in Popular, Inc. (NASDAQ:BPOP)

Summit Global Investments bought a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,975 shares of the bank's stock, valued at approximately $2,103,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BPOP. Financial Management Professionals Inc. purchased a new stake in shares of Popular during the third quarter worth $29,000. Headlands Technologies LLC purchased a new position in Popular in the first quarter valued at $42,000. Mather Group LLC. purchased a new position in Popular in the second quarter valued at $44,000. Meeder Asset Management Inc. purchased a new position in Popular in the second quarter valued at $48,000. Finally, GAMMA Investing LLC increased its holdings in Popular by 16.8% in the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank's stock valued at $111,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.

Analyst Upgrades and Downgrades

BPOP has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Popular from $105.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, October 24th. Barclays decreased their target price 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. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $120.00 target price (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Piper Sandler reduced their price objective on shares of Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $104.88.

Insider Buying and Selling

In other news, EVP Camille Burckhart sold 5,917 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 29,922 shares of the company's stock, valued at approximately $2,920,387.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Camille Burckhart sold 5,917 shares of the business's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the sale, the executive vice president now owns 29,922 shares of the company's stock, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction of $347,060.00. Following the transaction, the executive vice president now directly owns 25,115 shares of the company's stock, valued at $2,490,403.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,242 shares of company stock valued at $1,102,880 in the last quarter. Company insiders own 2.09% of the company's stock.

Popular Trading Down 1.7 %

Shares of BPOP traded down $1.61 during mid-day trading on Friday, reaching $94.33. The company had a trading volume of 661,730 shares, compared to its average volume of 628,211. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.78 and a beta of 0.79. The firm has a fifty day simple moving average of $96.78 and a 200-day simple moving average of $93.65. Popular, Inc. has a fifty-two week low of $66.72 and a fifty-two week 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 business had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.65%. The business's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 EPS. As a group, equities analysts predict that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, September 13th. Popular's dividend payout ratio (DPR) is 33.70%.

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.