Popular, Inc. (NASDAQ:BPOP) Stake Lowered by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC reduced its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,785 shares of the bank's stock after selling 20,545 shares during the period. Thompson Siegel & Walmsley LLC owned about 0.14% of Popular worth $10,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in Popular by 421.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,852 shares of the bank's stock valued at $286,000 after buying an additional 2,305 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Popular during the third quarter worth approximately $208,000. Pathstone Holdings LLC increased its position in shares of Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank's stock worth $1,974,000 after purchasing an additional 148 shares in the last quarter. Baron Wealth Management LLC purchased a new position in Popular in the 3rd quarter valued at $227,000. Finally, LMR Partners LLP purchased a new position in Popular in the 3rd quarter valued at $443,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. This trade represents a 35.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares of the company's stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company's stock.

Analyst Upgrades and Downgrades

BPOP has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price objective on Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Piper Sandler dropped their price objective on shares of Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. 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 note on Thursday, October 24th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $120.00 price target (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Finally, Hovde Group lifted their price target on shares of Popular from $113.00 to $123.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.88.

Popular Stock Performance

Popular stock traded up $0.92 during trading on Friday, hitting $98.96. The company's stock had a trading volume of 745,795 shares, compared to its average volume of 426,909. The stock's fifty day moving average is $96.49 and its 200 day moving average is $94.24. Popular, Inc. has a 1-year low of $71.08 and a 1-year high of $105.01. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 0.74 and a beta of 0.79.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The firm had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. During the same quarter in the prior year, the company earned $1.90 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.83%. This is an increase from Popular's previous quarterly dividend of $0.62. Popular's dividend payout ratio (DPR) is presently 38.04%.

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.