Popular, Inc. (NASDAQ:BPOP) Stock Position Lifted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its holdings in Popular, Inc. (NASDAQ:BPOP) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,367 shares of the bank’s stock after purchasing an additional 4,463 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.08% of Popular worth $4,877,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of BPOP. Headlands Technologies LLC acquired a new stake in shares of Popular in the first quarter valued at $42,000. Principal Securities Inc. acquired a new stake in shares of Popular in the fourth quarter valued at $83,000. GAMMA Investing LLC acquired a new stake in shares of Popular in the fourth quarter valued at $90,000. Clear Street Markets LLC acquired a new stake in shares of Popular in the fourth quarter valued at $139,000. Finally, CWM LLC lifted its holdings in shares of Popular by 164.8% in the first quarter. CWM LLC now owns 1,769 shares of the bank’s stock valued at $156,000 after buying an additional 1,101 shares during the period. Institutional investors own 87.27% of the company’s stock.

Insider Activity

In other news, EVP Gilberto Monzon sold 5,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $85.80, for a total transaction of $429,000.00. Following the transaction, the executive vice president now owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Manuel Chinea sold 12,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $90.70, for a total transaction of $1,088,400.00. Following the transaction, the executive vice president now owns 27,086 shares of the company’s stock, valued at approximately $2,456,700.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $85.80, for a total value of $429,000.00. Following the sale, the executive vice president now owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Barclays reduced their target price on Popular from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Hovde Group upped their target price on Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Piper Sandler upped their price target on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

Popular Trading Up 1.7 %

BPOP stock traded up $1.76 during mid-day trading on Tuesday, hitting $102.96. The stock had a trading volume of 607,090 shares, compared to its average volume of 391,472. Popular, Inc. has a 1-year low of $59.27 and a 1-year high of $103.33. The company has a fifty day moving average of $89.20 and a 200 day moving average of $86.33. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.82 and a beta of 0.80.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, April 23rd. The bank reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.09). Popular had a return on equity of 11.67% and a net margin of 11.95%. The firm had revenue of $714.56 million during the quarter, compared to analyst estimates of $706.00 million. As a group, sell-side analysts expect that Popular, Inc. will post 8.36 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Thursday, May 30th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, May 30th. Popular’s dividend payout ratio is 36.80%.

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.