Van ECK Associates Corp Acquires 11,678 Shares of Popular, Inc. (NASDAQ:BPOP)

Van ECK Associates Corp lifted its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,870 shares of the bank's stock after buying an additional 11,678 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Popular worth $4,098,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in Popular in the third quarter worth approximately $29,000. Headlands Technologies LLC acquired a new position in shares of Popular during the 1st quarter valued at $42,000. Mather Group LLC. bought a new position in Popular during the second quarter worth $44,000. Meeder Asset Management Inc. acquired a new stake in Popular in the second quarter worth $48,000. Finally, GAMMA Investing LLC increased its stake 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 purchasing an additional 181 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Popular Price Performance

Shares of NASDAQ BPOP traded down $1.61 during trading on Friday, hitting $94.33. The stock had a trading volume of 661,730 shares, compared to its average volume of 628,211. The firm has a fifty day moving average of $96.78 and a two-hundred day moving average of $93.65. Popular, Inc. has a 12 month low of $66.72 and a 12 month high of $105.01. The company has a market capitalization of $6.82 billion, a PE ratio of 12.82, a PEG ratio of 0.78 and a beta of 0.79.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly 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 company had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.65%. Popular's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. On average, equities analysts expect that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.63%. Popular's dividend payout ratio is currently 33.70%.

Insider Activity

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 29,922 shares in the company, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Camille Burckhart sold 5,917 shares of the company's stock in a transaction dated Tuesday, August 20th. The stock was 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 directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction that occurred 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 transaction, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,242 shares of company stock worth $1,102,880. 2.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.